Bilibili Q1 revenues up 68% on bigger user base

SHANGHAI -- China's popular video sharing platform Bilibili posted strong revenue growth in the first quarter of 2021 on a fast-expanding user base.

Net revenues reached 3.9 billion yuan ($595.4 million) in the January-March period, up 68 percent year-on-year, Bilibili announced in its first-quarter financial results Thursday.

Average monthly active users (MAUs) reached 223.3 million, and mobile MAUs reached 208.5 million, representing year-on-year increases of 30 percent and 33 percent, respectively, the company said.

Revenues from mobile games totaled 1.17 billion yuan, up 2 percent year-on-year and revenues from value-added services, including the premium membership program and live broadcasting services, hit 1.5 billion yuan, an increase of 89 percent, the company said.

Revenues from advertising reached 714.7 million yuan, representing a year-on-year increase of 234 percent, and revenues from e-commerce and other businesses hit 519.2 million yuan, up 230 percent.

The company said it expects net revenues for the second quarter of 2021 to be between 4.25 billion yuan and 4.35 billion yuan.