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Bilibili Inc. (NASDAQ: BILI), revealed extraordinary progress in both user numbers and sales in quarterly results

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Bilibili Inc. (NASDAQ: BILI), China’s leading young-generation online entertainment site, today revealed its unaudited financial results for the third quarter ended 30 September 2020.

Total net sales increased to US$475.1 million, reflecting a 74 percent rise from the same period in 2019.

Games on phones. US$187.8 million in sales from smartphone games, reflecting a rise of 37 percent from the same timeframe of 2019. The rise was mostly attributed to the popular smartphone games that were recently released.

Value-Added Features (VAS) (formerly referred to as VAS and Live Broadcasting). VAS sales of US$144.3 million, reflecting an increase of 116 percent from the same period of 2019, largely due to the improved monetization activities of the Company, driven by rises in the number of paid subscribers for the premium subscription scheme of the Company, live streaming services, and other value-added services.

Advertising sales were US$82.1 million, marking a 126 percent rise from the same period in 2019. This rise was mainly attributed to the rising number of advertisers, which was motivated by further popularity of the brand name of Bilibili in the online advertising industry in China.

Revenues from online sales and others were US$60.9 million, marking an 83 percent rise from the same period of 2019, largely due to the growth in retail revenues across the e-commerce site of the Company.

Revenue expenses were US$362.9 million, marking a 63 percent rise relative to the same duration in 2019. The cost of revenue-sharing, a core component of revenue expenses, was US$173.7 million, reflecting a 77 percent rise from the same duration in 2019.

Gross profit was US$112.2 million, reflecting a 117 percent rise from the same duration in 2019, largely attributed to higher net sales.

Complete costs for operations. Total running costs amounted to US$271.7 million, marking a 138 percent raise over the same period in 2019.

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