Bilibili reaffirmed its mid- to long-term profitability targets of a 40% to 45% gross margin and a 15% to 20% operating margin, while announcing a September 17 global launch for its game Lumi Master. In the second quarter, total revenues rose 8% year-over-year to RMB 7.9 billion, with advertising revenue up 28% to RMB 3.1 billion and gross margin expanding to 37.2%, marking the 16th consecutive quarter of improvement. Net profit increased 55% to RMB 339 million, and adjusted net profit rose 25% to RMB 704 million. The company also noted that gaming revenue, which fell 14% to RMB 1.4 billion, is expected to resume year-over-year growth in the fourth quarter. Additionally, the board approved a new two-year USD 300 million share repurchase program.
Bilibili IncReaffirmed margin targets, strong Q2 results, and new $300M buyback.
