Summary by Moomoo AI
Bilibili Co., Ltd. (the "Company") announced the unaudited interim consolidated business performance for the six months ended June 30, 2024. The report shows that the Group's net revenue reached RMB 11.79 billion, a 14% year-on-year increase. Advertising business revenue reached RMB 3.71 billion, a 30% increase, while value-added service revenue reached RMB 5.09 billion, a 14% increase. Gross profit increased significantly by 47% year-on-year, reaching RMB 3.44 billion, and gross margin increased from 22.5% in the same period last year to 29.2%. Net loss narrowed by 37% to RMB 1.37 billion, and adjusted net loss narrowed by 64% to RMB 726.9 million. Operating cash flow turned from an outflow of RMB 651.2 million in the same period last year to an inflow of RMB 2.39 billion. Daily active users increased by 8% to reach 102.3 million. The Company continues to strengthen its business capabilities and has made progress in community development.