Bilibili announces strong fourth quarter revenue

Video streamer Bilibili Inc announced on Thursday total revenue jumped 91 percent in the quarter ending Dec 31, fueled by robust growth across its mobile games, value-added services, advertising and e-commerce businesses.

Total net revenue for the quarter hit 3.84 billion yuan ($588.5 million), Bilibili said in its unaudited financial results. Gross profit expanded 137 percent to 944.1 million yuan, up from the same period in 2019.

Average monthly active users, a common indicator of customer loyalty, reached 202.0 million, up 55 percent year-on-year.

But such momentum has yet to stop the company from operating in the red, with fourth-quarter net losses more than doubling to 843.7 million yuan from 387.2 million yuan a year ago.

Bilibili captured the attention of a wider audience beyond its traditional Generation Z userbase when a 22-year-old content creator dubbed "Hetongxue" uploaded a video where he interviewed Apple CEO Tim Cook.