Bilibili Inc. Up 22.88% To $15.43 After Earnings Beat

Bilibili Inc. (BILI) said before open Tuesday that it lost $0.63 per share in quarter three 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $814.5 million, beating estimates by $17.5 million.

In the same quarter a year ago, the company lost $0.65 per share on revenue of $808 million.

The stock is up 22.88% to $15.43 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Bilibili Inc. a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 26. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Bilibili is a Chinese online entertainment platform that is best known for its video-sharing site that resembles YouTube. The site was founded in 2009 and started as a long-form video platform for anime, comics, and gaming, or ACG, content that appealed to Gen Z users. Since then, it has expanded its content on the platform to include a broader range of interests that have attracted Chinese users outside of the Gen Z cohort. The firm generates revenue through five main areas: advertising, mobile games, live streaming, value-added services, and e-commerce.