SHANGHAI - Bilibili Inc . (NASDAQ:BILI) shares jumped 3.2% Thursday after the Chinese video platform reported second-quarter results that beat analyst expectations, driven by strong advertising and gaming revenue growth.
The company posted an adjusted net loss of RMB0.65 ($0.09) per share, narrower than the RMB0.74 loss analysts had forecast. Revenue rose 16% year-over-year to RMB6.13 billion ($843.1 million), slightly above the consensus estimate of RMB6.1 billion.
Advertising revenue was a bright spot, surging 30% YoY to RMB2.04 billion ($280.4 million). Mobile games revenue also showed strength, increasing 13% to RMB1.01 billion ($138.6 million), boosted by the launch of new titles like "San Guo: Mou Ding Tian Xia".
"Our second quarter results highlight how we are accelerating our financial performance while cultivating a vibrant community," said Rui Chen, Bilibili's chairman and CEO.
The company's user metrics continued to improve, with daily active users rising 6% YoY to 102.3 million. Average daily time spent per user grew to 99 minutes, up from 94 minutes a year ago.
Bilibili also made progress on profitability, with its adjusted net loss narrowing 72% YoY to RMB271.0 million ($37.3 million). The company generated positive operating cash flow of RMB1.75 billion ($240.9 million) in Q2.
Looking ahead, management expressed confidence in the company's path to profitability and future growth potential as it enhances monetization of its user base.
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