China's Bilibili Q2 net profit jumps 55% on ad growth
BILI•Outlook
- Company did not provide specific guidance for the current quarter or full year
Q2 results
- China video platform's Q2 revenue rose 8% yr/yr, adjusted net profit up 25%
- Net profit for Q2 rose 55% yr/yr, with gross margin improving to 37.2%
- Company repurchased 5.8 mln shares YTD under its share buyback programs
Result drivers
- Advertising growth - Advertising revenue rose 28% yr/yr, mainly due to improved product offerings and enhanced advertising efficiency
- User engagement - Higher daily active users and increased time spent drove total user time spent up 14% yr/yr, supporting ecosystem growth, per CEO Rui Chen
- Mobile game decline - Mobile game revenue fell 14% yr/yr, mainly due to a high base effect from prior-year performance of San Guo: Mou Ding Tian Xia
Key details and analyst coverage
| Metric | Actual |
|---|---|
| Q2 Revenue | RMB 7.94 bln |
| Q2 Adjusted EPS | RMB 1.58 |
| Q2 Basic EPS |
