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Nasdaq-listed Bilibili beats expectations with record high Q2 revenue

Abstract : Chinese online entertainment platform Bilibili Inc. on Thursday reported a 70 percent growth in revenue in the second quarter (Q2) of 2020, as its growth strategy continues to attract more users and business partners.

SHANGHAI, Aug. 27 (Xinhua) — Chinese online entertainment platform
Bilibili Inc. on Thursday reported a 70 percent growth in revenue in the
second quarter (Q2) of 2020, as its growth strategy continues to
attract more users and business partners.

Total revenue topped 2.62 billion yuan (about 380 million U.S.
dollars) in the quarter, an increase of 70 percent from the same period
in 2019, significantly ahead of market expectations, the Nasdaq-listed
company announced in its unaudited financial report.

Bilibili’s average monthly active users hit 172 million, representing
an increase of 55 percent from the same period of last year, while its
average daily active users reached 51 million, up 52 percent year on
year.

Revenue from mobile games increased by 36 percent year on year in Q2
to 1.25 billion yuan, while revenue from value-added services, led by
increases in the number of paying users for the company’s premium
membership program and live broadcasting services, was 830 million yuan,
up 153 percent compared with the second quarter of 2019.

“During the second quarter, we launched several successful marketing
campaigns to raise brand awareness and improve brand perception, while
actively expanding our content offerings, all of which led to our fast
and healthy user growth,” said Chen Rui, chairman of the board and CEO
of Bilibili.

The company expects its net revenue to be between 3.05 billion and 3.1 billion yuan for the third quarter of 2020. Enditem

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Source: Nasdaq-listed Bilibili beats expectations with record high Q2 revenue

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