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Investing.com -- Bilibili (NASDAQ:BILI) saw its shares jump approximately 6% in US premarket trading Thursday after the company reported earnings and revenue that surpassed analyst expectations. This marks the first GAAP profitable quarter for the Chinese entertainment company.
Bilibili posted fourth-quarter earnings per share of RMB1.08, narrowing its loss from RMB1.34 per share a year earlier and exceeding analysts’ estimate of RMB0.95.
Quarterly revenue reached RMB7.73 billion, surpassing the consensus forecast of RMB7.62 billion.
Advertising revenue totaled RMB2.39 billion in the fourth quarter, while mobile game revenue came in at RMB1.80 billion.
"We closed 2024 on a strong note, achieving our first quarter of GAAP profitability milestone reflecting the value of our community and our relentless effort to enhance our commercialization efficiency,” said Mr. Rui Chen, chairman and CEO of Bilibili.
"In the fourth quarter, our DAUs and MAUs reached 103 million and 340 million, respectively, with users spending an average of 99 minutes daily on our platform," he added.
"We are also very encouraged by the emergence of new open-source AI models, making AI solutions accessible and cost-effective. Leveraging our high-quality and exclusive data assets, we expect to benefit even more from this remarkable revolution, unleashing greater value from our unique community.”