Station B's net loss in the first quarter narrowed sharply by 72% year-on-year, and daily active users reached 93.7 million, an increase of 18% year-on-year;
Tencent Technology News on June 1 news, Bilibili (hereinafter referred to as: Station B) 2023 Q1 revenue of 5.1 billion yuan, market expectations of 5.159 billion yuan, the same period last year 5.054 billion yuan; Q1 net loss of 628 million yuan, market expectation loss of 1.384 billion yuan, the same period last year loss of 2.282 billion yuan.
According to financial report data, the average daily active users of station B in the first quarter reached 93.7 million, an increase of 18% over the same period in 2022; The average number of monthly active users is 315 million. Users spent an average of 96 minutes per day, and the total time spent by users increased by 19% year-on-year.
Station B's mobile game turnover in the first quarter was 1.1 billion yuan, a decrease of 17% compared with the same period in 2022, and the decrease was mainly due to the lack of new game launches in the first quarter of 2023.
Station B's advertising revenue in the first quarter was RMB1.27 billion, an increase of 22% over the same period in 2022, mainly due to the optimization of advertising products provided by the Company and the improvement of advertising efficiency.
Station B's IP derivatives and other turnover in the first quarter was RMB510 million, a decrease of 15% compared with the same period in 2022, mainly due to the decrease in sales of anime, comic and game (ACG) IP derivatives on the Company's e-commerce platform.
Station B's R&D expenditure in the first quarter was 1 billion yuan, an increase of 2% year-on-year.
As at 31 March 2023, the Company held cash and cash equivalents, time deposits and short-term investments totalling $19.4 billion.
In addition, Station B also reiterated its revenue outlook for the full year of 2023, which is expected to be between 24 billion yuan and 26 billion yuan.
Chen Rui, Chairman and CEO of Station B, said: "In the first quarter of 2023, under the premise of maintaining the healthy development of the community, our gross profit margin steadily increased and our loss narrowed significantly. In the first quarter, the average daily active users increased by 18% year-on-year to 93.7 million, and the proportion of community daily active users in the average monthly active users further increased to 29.7%, reflecting the steady improvement of user stickiness. At the same time, we further improved our operational efficiency, improving gross margin to 22% from 16% in the same period last year. On the basis of the continuous increase in daily active users, marketing and marketing expenses decreased by 30% year-on-year, and net loss narrowed by 72% year-on-year. In 2023, we will continue to adhere to our mission to provide users with high-quality content, build a stage for creators to express themselves, and enable more creators to earn income. At the same time, it accelerates commercialization, improves profit margins, and steadily advances towards the break-even target. ”