Bilibili reports 76% revenue growth in Q2

SHANGHAI - Bilibili Inc, one of China's leading online video sharing and entertainment platforms, posted a 76 percent year-on-year increase in its net revenues for the second quarter of this year.

On Tuesday, the Shanghai-based company announced in its unaudited financial results for Q2 ending on June 30 that its total net revenues reached 1.03 billion yuan ($150 million) with an increasing number of online video viewers.

Bilibili had 85 million monthly active users, of whom 71.4 million are viewing on mobile devices. The numbers represent annual increases of 30 percent and 39 percent respectively, according to the financial results.

The revenue growth is mainly attributed to the rise of mobile games (791 million yuan), live broadcasting and value-added services (118.6 million yuan) and advertising (95.9 million yuan).

The firm, which went public on the Nasdaq Stock Market in March, reported a net loss of 70.3 million yuan in Q2, compared to a loss of 50.4 million yuan in the same period last year.

The company projected its net revenues for the third quarter of the year to be between 1 billion and 1.04 billion yuan, according to the financial results.