Website B released Q1 2023 financial report: net loss of 628 million yuan

On June 2nd, Bilibili (hereinafter referred to as "Bilibili") released its unaudited financial report for the first quarter ended March 31, 2023. The financial report shows that the total revenue of Station B in the first quarter reached 5

On June 2nd, Bilibili (hereinafter referred to as "Bilibili") released its unaudited financial report for the first quarter ended March 31, 2023. The financial report shows that the total revenue of Station B in the first quarter reached 5.07 billion yuan, with a market expectation of 5.159 billion yuan; The net loss was 628 million yuan, and the market expected a loss of 1.384 billion yuan.

The financial report shows that in the first quarter of this year, the revenue of mobile games on Bilibili was 1.1 billion yuan, a decrease of 17% compared to the same period in 2022. It is reported that the reason for the decrease is the lack of new game launches in the first quarter of 2023.

In addition, the IP derivatives and other revenue of B Station in the first quarter was RMB 510 million, a decrease of 15% compared to the same period in 2022, mainly due to a decrease in sales of animation, comics, and game IP derivatives products on our e-commerce platform.

Regarding this, Chen Rui, Chairman and CEO of Bilibili, stated: In the first quarter of 2023, while maintaining the healthy development of our community, our gross profit margin steadily increased and our losses significantly narrowed. At the same time, we further improved our operational efficiency, increasing our gross profit margin from 16% in the same period last year to 22%. On the basis of the continuous increase in daily active users, our marketing and marketing expenses decreased by 30% year-on-year, and our net losses significantly narrowed by 72% year-on-year. In 2023, we will continue to accelerate commercialization, improve profit margins, and balance profits and losses Strive steadily towards the goal& Nbsp;

The financial report indicates that as of March 31, 2023, the company held a total of RMB 19.4 billion or USD 2.8 billion in cash and cash equivalents, term deposits, and short-term investments. In the financial report, Bilibili reiterated its outlook for the full year 2023 revenue, which is expected to be between 24 billion yuan and 26 billion yuan.

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