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Bilibili | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Mar 7 06:09
Summary by Moomoo AI
Bilibili Inc., a leading video community for young generations in China, reported its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. The company saw a 3% increase in total net revenues for both the quarter and the year, reaching RMB6.3 billion and RMB22.5 billion, respectively. Advertising revenues and value-added services (VAS) revenues experienced significant growth, with advertising revenues increasing by 28% in the fourth quarter and 27% for the full year, while VAS revenues grew by 22% in the fourth quarter and 14% for the full year. Gross profit also saw a substantial increase, with a 33% rise in the fourth quarter and a 41% increase for the full year, leading to improved gross profit margins. Despite these gains, Bilibili reported a net loss...Show More
Bilibili Inc., a leading video community for young generations in China, reported its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. The company saw a 3% increase in total net revenues for both the quarter and the year, reaching RMB6.3 billion and RMB22.5 billion, respectively. Advertising revenues and value-added services (VAS) revenues experienced significant growth, with advertising revenues increasing by 28% in the fourth quarter and 27% for the full year, while VAS revenues grew by 22% in the fourth quarter and 14% for the full year. Gross profit also saw a substantial increase, with a 33% rise in the fourth quarter and a 41% increase for the full year, leading to improved gross profit margins. Despite these gains, Bilibili reported a net loss of RMB1.3 billion for the fourth quarter and RMB4.8 billion for the full year, although these losses narrowed by 13% and 36% year over year, respectively. Adjusted net losses also narrowed significantly. The company achieved positive operating cash flow for the full year of 2023, a notable improvement from the negative cash flow reported in the previous year. Average daily active users (DAUs) reached 100.1 million in the fourth quarter, an 8% increase from the previous year. Bilibili's management highlighted the company's focus on community growth, commercialization strategy, and operational efficiency as key drivers of the improved financial performance and expressed commitment to further financial improvements in 2024.

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