Bilibili's net profit for Q1 FY2024 was -¥7.49 billion, a 19.25% decrease year-over-year.

On May 23, Bilibili (stock ticker: BILI) announced its financial results. The report showed that for the first quarter of fiscal year 2024, net profit attributable to ordinary shareholders was -7.49 billion yuan, a decrease of 19.25% year over year; operating revenue was 5.665 billion yuan, an increase of 11.74% year over year.

Bilibili Inc. was incorporated on December 23, 2013, under the laws of the Cayman Islands. The company is a flagship brand for China’s younger generation and a leading video community. According to an iResearch Consulting report, as of 2020, users aged 35 and under accounted for over 86% of the company’s monthly active users, a proportion that surpasses other major Chinese video platforms. Videos connect people and the world in an intuitive, vivid way that conveys a large amount of information, and have quickly become a primary medium for communication, entertainment, and information dissemination. The trend of integrating video with various daily life scenarios is called “videofication” by the company. Videofication will create a vast pan-video market. According to an iResearch Consulting report, by 2025, the number of video users in China will exceed 1,180.2 million, and the market revenue generated will surpass 1.8 trillion RMB. As China’s preferred video community for the younger generation, the company believes it can seize the huge market opportunities brought by the “videofication” era. The company is a comprehensive video community offering a wide variety of content to meet the diverse interests of young people. “All the videos you’re interested in are on Bilibili” is the company’s brand proposition. The company has built its community around culturally inclined users, high-quality content, talented content creators, and strong emotional bonds among them. Within the community, users and content creators can discover diverse content based on different interests and interact with each other. Content categories include lifestyle, gaming, entertainment, anime, technology, and knowledge, among many others. The company also supports a broad range of video consumption scenarios, centered on professional user-generated videos (PUGV), supplemented by live streaming, professional organization-generated videos (OGV), and more. The company has become a home for multicultural and hobby enthusiasts, as well as a destination for discovering the cultural trends and phenomena of China’s younger generation.

(Data source: Tonghuashun (300033) iFinD)