Chinese entertainment platform Bilibili (BILI) unveiled fresh guidance which surpassed analysts’ estimates after markets closed on Monday as it posted better-than-expected results for its third quarter, which were supported by double-digit growth in user volumes.

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The Shanghai-based company generated total revenues of 1.86 billion renminbi ($260.1 million) in the three months ended Sept. 30, 72% higher than in the corresponding quarter of the prior year. This was ahead of the consensus estimate of analysts polled by Capital IQ for 1.76 billion renminbi.

Feeding into the results was a 38% year-on-year jump in average monthly users to 127.9 million, while mobile monthly average users rose 43% year-on-year to 114.2 million in the period. Revenue per monthly average user jumped by 25% to 14.5 renminbi. Non-game revenue per monthly average user was 7.2 renminbi, a 100% increase from a year earlier.

Revenues from live broadcasting and value-added services were 452.5 million renminbi ($63.3 million), representing an increase of 167% from the same period of 2018, which Bilibili said was mainly attributable to the company’s enhanced monetization efforts, led by increases in the number of paying users for live broadcasting services, Bilibili’s premium membership program and other value-added services.

Revenues from advertising came in at 247.2 million renminbi, representing an increase of 80% from the same period of 2018. Revenues from e-commerce and others were 226.1 million renminbi, representing an increase of 703% from the same period of 2018.

Bilibili’s net loss was 405.7 million renminbi, compared to 246.1 million renminbi in the same period of 2018. Its adjusted basic and diluted net loss per share were 1.05 renminbi ($0.15), compared to 0.72 renminbi in the same period of 2018. The adjusted net loss per share was less than the 1.08 renminbi loss which analysts polled by Capital IQ had expected.

For the fourth quarter of 2019, Bilibili is targeting net revenues to be between 1.93 billion renminbi and 1.98 billion renminbi. Analysts are projecting 1.88 billion renminbi.

Chinese entertainment platform Bilibili (BILI) unveiled fresh guidance which surpassed analysts’ estimates after markets closed on Monday as it posted better-than-expected results for its third quarter, which were supported by double-digit growth in user volumes.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

The Shanghai-based company generated total revenues of 1.86 billion renminbi ($260.1 million) in the three months ended Sept. 30, 72% higher than in the corresponding quarter of the prior year. This was ahead of the consensus estimate of analysts polled by Capital IQ for 1.76 billion renminbi.

Feeding into the results was a 38% year-on-year jump in average monthly users to 127.9 million, while mobile monthly average users rose 43% year-on-year to 114.2 million in the period. Revenue per monthly average user jumped by 25% to 14.5 renminbi. Non-game revenue per monthly average user was 7.2 renminbi, a 100% increase from a year earlier.

Revenues from live broadcasting and value-added services were 452.5 million renminbi ($63.3 million), representing an increase of 167% from the same period of 2018, which Bilibili said was mainly attributable to the company’s enhanced monetization efforts, led by increases in the number of paying users for live broadcasting services, Bilibili’s premium membership program and other value-added services.

Revenues from advertising came in at 247.2 million renminbi, representing an increase of 80% from the same period of 2018. Revenues from e-commerce and others were 226.1 million renminbi, representing an increase of 703% from the same period of 2018.

Bilibili’s net loss was 405.7 million renminbi, compared to 246.1 million renminbi in the same period of 2018. Its adjusted basic and diluted net loss per share were 1.05 renminbi ($0.15), compared to 0.72 renminbi in the same period of 2018. The adjusted net loss per share was less than the 1.08 renminbi loss which analysts polled by Capital IQ had expected.

For the fourth quarter of 2019, Bilibili is targeting net revenues to be between 1.93 billion renminbi and 1.98 billion renminbi. Analysts are projecting 1.88 billion renminbi.