Shares of Bilibili (NASDAQ: BILI) fell 18% this past week, according to data from S&P Global Market Intelligence , after the video-sharing site reported mounting losses and issued a tepid sales forecast.
Bilibili's revenue rose 9% year over year to 4.9 billion yuan ($732.9 million) in the second quarter. The China-based company saw its average monthly active users jump 29% to 305.7 million, while its daily active users increased 33% to 83.5 million. Its average monthly paying users meanwhile, leaped 32% to 27.5 million.
"We grew our advertising market share, bucking broad industry trends," CEO Rui Chen said in a press release.
For further details see:
Why Bilibili Stock Plunged This Week