Chinese video site Bilibili released its financial report for the second quarter of 2023 on Watch The Masseuse Fired into The Wifes Hole OnlineAugust 17. The report shows that Bilibili’s second-quarter revenue reached RMB 5.3 billion ($731.5 million), marking an 8% year-on-year growth, slightly exceeding the market’s expectation of RMB 5.2 billion. Among the revenue streams, value-added services accounted for RMB 2.3 billion, showing a 9% year-on-year growth, and advertising revenue stood at RMB 1.6 billion, indicating a 36% year-on-year increase. However, mobile game revenue was RMB 890 million, a 15% year-on-year decline. Additionally, revenue generated from IP derivatives and other businesses totaled RMB 538.7 million, marking a 10% year-on-year drop. Bilibili attributed its downward revision of full-year revenue expectations, ranging between RMB 22.5 billion and RMB 23.5 billion, to the delayed release of several mobile games and lower-than-expected contributions from non-core businesses. In the second quarter, Bilibili’s net loss was RMB 1.5 billion ($213.5 million), a 23% year-on-year drop. During the second quarter, the daily active users on the video platform reached 96.5 million, marking a 15% year-on-year growth, while monthly active users reached 324 million. The daily average usage time of users was 94 minutes, driving a 22% year-on-year increase in total usage time. [Bilibili filing, in Chinese]
