Bilibili Inc. Announces Second Quarter 2024 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2024
0mins
Source: Newsfilter
Financial Performance: Bilibili Inc. reported a 16% year-over-year increase in total net revenues for Q2 2024, reaching RMB6.13 billion (US$843.1 million), with advertising revenues growing by 30% and gross profit increasing by 49%. The company also narrowed its net loss by 61% to RMB608.1 million (US$83.7 million).
User Engagement and Growth: The platform saw a 6% increase in average daily active users (DAUs) to 102.3 million, with users spending an average of 99 minutes per day on the site. Bilibili's successful game launch, "San Guo: Mou Ding Tian Xia," contributed to enhanced monetization capabilities and community engagement.
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Analyst Views on BILI
Wall Street analysts forecast BILI stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BILI is 30.25 USD with a low forecast of 27.00 USD and a high forecast of 34.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 35.920
Low
27.00
Averages
30.25
High
34.00
Current: 35.920
Low
27.00
Averages
30.25
High
34.00
About BILI
Bilibili Inc is an investment holding company primarily engaged in providing online entertainment services. Content business categories include anime content, pan entertainment and pan knowledge content. Community business provides a community interaction platform. Value-added services mainly include live streaming and paid membership services. Advertising business is mainly engaged in advertising business, covering household appliances, e-commerce, Internet services, automobiles and other industries. Mobile gaming business mainly engages in mobile game development, including San Guo: Mou Ding Tian Xia, Fate Grand Order, Azure Lane, and others. The Company also engages in commercial services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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