BILI - Bilibili: Focus On Games Revenue And Operating Profitability

2024-05-24 05:22:31 ET

Summary

• Bilibili's mobile games business revenue contracted by -13.1% YoY in the first quarter of 2024, and this was also -2.8% lower than the sell-side's consensus forecast.
• But it is encouraging to learn that BILI is aiming to achieve positive non-GAAP adjusted operating income in the third quarter of this year.
• I stick to a Hold rating for Bilibili, taking into account both its games business' weak top-line performance and its favorable operating profitability outlook.

Elevator Pitch

I have a Hold rating for Bilibili Inc. ( BILI ) [9626:HK] stock.

My prior January 22, 2024 write-up drew attention to Bilibili's healthy user metrics and modest buybacks. The current article reviews BILI's most recent quarterly financial results....

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