Bilibili posts fourth-quarter revenue growth of 6%, its lowest growth since its IPO TechNode
On Thursday, Chinese video platform Bilibili announced net revenue of 6.1 billion RMB ($890.6 million) in the fourth quarter of 2022. That represents a 6% increase from the same period in 2021 and is the lowest growth since the company went public in 2018. Despite this, the Shanghai-based company’s loss declined 29% from the same quarter in 2021 to 1, 5 billion RMB back, but still resulted in a 10% higher loss of 7.5 billion RMB in 2022 year-on-year. Bilibili shifted its focus from monthly active users (MAUs) to daily active users (DAUs) and delivered 29% year-over-year growth in DAUs to 92.8 million. However, the DAU growth rate declined from 8.1% to 2.8% in the September quarter, with 7 million fewer monthly active users recorded during that period. Among Bilibili’s revenue streams, value-added services stood out with revenue growth of 24% to RMB 2.3 billion, a growth rate that almost quadrupled growth in advertising revenue. Additionally, the Nasdaq and Hong Kong-listed company saw a 1% decline in mobile game revenue in 2022. [Bilibili]
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