Bilibili (BILI) has released an update.
Bilibili Inc. has reported a healthy financial performance for Q1 2024, with total net revenues increasing by 12% year-over-year to RMB5.66 billion and a significant 45% year-over-year increase in gross profit. Despite an increase in net loss compared to the same period last year, the company has seen substantial gains, including a 31% growth in advertising revenue and improvements in operational efficiency leading to a 56% narrowing of the adjusted net loss. With a robust 9% growth in daily active users and a new peak in monthly active users, Bilibili continues to strengthen its community engagement and commercialization strategies.
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