BILIBILI-W (09626) third quarter gross profit is 2.547 billion yuan, an increase of 75.62% year-on-year. Daily active users and monthly active users have reached new highs.

BILIBILI-W (09626) released unaudited financial results for the third quarter of 2024, with a total net revenue of 7.306 billion yuan, an increase of 25.85% compared to the same period last year; gross profit of 2.547 billion yuan, an increase of 75.62%; and a gross profit margin of 34.9%, an increase from 25.0% in the same period last year. Among them, mobile game revenue was 1.823 billion yuan (260 million US dollars), an increase of 84%; advertising revenue was 2.094 billion yuan (298 million US dollars), an increase of 28%. In addition, the average daily active users reached 107.3 million, compared to 102.8 million in the same period last year. In the first three quarters of 2024, the total net revenue reached 19.097 billion yuan, an increase of 18.04% compared to the same period last year; gross profit was 5.986 billion yuan, an increase of 58.27%. "This quarter, our community indicators and key businesses have maintained strong growth momentum," said Chen Rui, Chairman and CEO of Bilibili. "Our daily active users and monthly active users have reached new highs of 107 million and 348 million, respectively. The average daily usage time of users has also reached a new high of 106 minutes, an increase of 6 minutes compared to the same period last year. With our thriving community and highly active users, we have the ability and opportunity to explore and unleash greater user value through diverse commercial products. Total revenue for the third quarter reached 7.306 billion yuan, an increase of 26% year-on-year. In particular, our mobile game and advertising business revenues increased by 84% and 28% year-on-year, respectively. This quarter, we achieved positive net profit under non-GAAP, for the first time, thanks to our continuous efforts to improve commercial efficiency. This milestone is just a new starting point. Looking ahead, we will continue to enhance our commercialization capabilities and strengthen the community ecology, bringing long-term value to all partners." Mr. Fan Xin, CFO of Bilibili, said, "In the third quarter, driven by the strong growth of our high-margin mobile game and advertising business, our total revenue accelerated, while the gross profit margin significantly increased. Our gross profit soared by 76% year-on-year, and the gross profit margin rose from 25.0% in the same period last year to 34.9%. As a result, we achieved an adjusted operating profit of 272 million yuan, compared to an adjusted operating loss of 755 million yuan in the same period last year. The significant improvement in financial performance demonstrates the resilience of our business model and the enormous commercial potential inherent in our community. We will take this milestone as a new starting point and continue to drive sustainable growth in the future."