China’s online video community Bilibili (9626) said its net loss widened 10.4 percent last year from a year earlier to 7.5 billion yuan (8.56 billion Hong Kong dollars), in part due to higher revenue share and content costs.
While its net income for the same period rose 13 percent to 21.9 billion yuan, costs to generate revenue increased 17.7 percent to 18.05 billion yuan, dampening profit.
Value-added services, accounting for 40 percent of total revenue, contributed growth of 25.7 percent to 8.72 billion yuan last year. Advertising rose 12 percent to 5.07 billion yuan, while mobile games fell 1.3 percent to 5.02 billion yuan.
Its gross profit contracted 4.8 percent to 3.85 billion yuan last year, marking a gross profit margin of 17.6 percent, which improved to 20.3 percent in the fourth quarter.
The company expects to improve its gross margin and cut losses in 2023 by accelerating time to market and adjusting spending.
https://www.thestandard.com.hk/section-news/section/2/251217/Bilibili‘s-loss-wide-10pc-to-7.5b-yuan
Category: Porcelain
