Short-video platform Bilibili Inc. (9626.HK; BILI.US) on Thursday reported its revenue rose 7.5% year-on-year to 15.41 billion yuan ($2.29 billion) in the first half of this year, while its net profit leaped 163.7% to 553 million yuan.
Revenue from its value-added services edged up 4% year-over-year to 5.88 billion yuan during the six-month period. Advertising revenue climbed 29% to 5.72 billion yuan, but mobile gaming revenue fell 13% to 2.91 billion yuan.
The company’s daily active users grew 7% year-over-year to 115.9 million during the period. Meanwhile, average daily time spent on the platform reached 116 minutes, up over 9 minutes year-on-year, driving a 17% year-over-year increase in total user time spent on the platform.
Shares of Bilibili opened up 1.8% at HK$132 on Friday. The stock is down over 50% from its 52-week high.
By Lau Chi Hang
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