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....
Read the full article on Seeking Alpha
For further details see:
Bilibili: Focus On Games Revenue And Operating Profitability