Nasdaq-listed Bilibili posts strong revenue growth in 2019

Source: Xinhua| 2020-03-18 16:13:16|Editor: huaxia

SHANGHAI, March 18 (Xinhua) -- Chinese online entertainment platform Bilibili Inc. reported 64-percent revenue growth in 2019 on the back of a strong rise in user numbers.

Total net revenue reached around 6.78 billion yuan (over 973 million U.S. dollars) in 2019, the Nasdaq-listed company announced Wednesday in its unaudited financial report.

In the fourth quarter of last year, total net revenue reached nearly 2.01 billion yuan, an increase of 74 percent from the same period in 2018, exceeding the market expectation.

Bilibili's average monthly active users in the Q4 exceeded 130 million, with 116 million active mobile users. The two numbers were up 40 percent and 46 percent year on year, respectively.

Its average daily active users reached a record 37.9 million, a 41-percent increase from the same period in 2018, it said.

"The year 2019 was a transformational year as we gained broader recognition as the go-to online entertainment platform in China," said Chen Rui, chairman of the board and CEO of Bilibili. "We closed the year on a high-note, with exceptional user growth, top line results that exceeded our guidance and improved gross margin."

Established in June 2009, Bilibili was listed on the Nasdaq in March 2018.