By 
Bilibili stock crashes by 12.55% after reporting a loss of $359.5 million in the first quarter.
Source: Bilibili
BILI down -12.55%, HUYA up +6.17%, Pre-market trading
The Shanghai-based company stated it had a loss of 91 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 66 cents per share.
The Chinese video-sharing website reported revenue of $796.2 million in the period, surpassing Street forecasts. The analysts surveyed by Zacks expected $771.7 million.
The company’s average monthly active users (MAUs) reached 293.6 million, and mobile MAUs reached 276.4 million, a surge of 31% and 33% from the prior period in 2021, accordingly.
Rui Chen, Chairman, and chief executive officer of Bilibili, stated that the first quarter presented new challenges affecting businesses nationwide, more so in Shanghai.
For the first-quarter ending in July, Bilibili stated it anticipates revenue in the range of $764 million to $779.8 million.
Comments