Bilibili (BILI, Financial) reported its financial results for the third quarter ending September 30, 2024. The company's total net revenue reached 7.31 billion yuan, marking a 26% increase compared to the same period last year. Net losses narrowed significantly to 79.8 million yuan, an improvement of 94% year-over-year. Adjusted net profit, excluding certain accounting standards, was 235.9 million yuan, a stark contrast to the net loss of 863.5 million yuan in the previous year.
The breakdown of Bilibili's third-quarter revenues is as follows:
Revenue from value-added services reached 2.82 billion yuan, showing a 9% year-over-year increase. Advertising revenue surged by 28%, amounting to 2.09 billion yuan. The mobile gaming sector experienced a robust growth of 84%, contributing 1.82 billion yuan to the total revenue. However, revenue from IP derivatives and other businesses slightly declined by 2% to 567.3 million yuan.
