Q2 2024 Bilibili Inc Earnings Call Transcript
Key Points
- Total revenues increased by 15% year-over-year to RMB6.13 billion.
- Advertising revenue grew by 30% year-over-year, leading the growth.
- Gross profit increased by 49% year-over-year, with gross profit margin rising to 29.9%.
- DAUs increased by 6% year-over-year, reaching 102 million, and MAUs grew to 336 million.
- Record RMB1.75 billion in operating cash flow was generated in the second quarter.
- Sales and marketing expenses increased by 13% year-over-year to RMB1 billion.
- Despite improvements, the company still reported an adjusted operating loss and adjusted net loss.
- R&D expenses were RMB895 million, down 15% year-over-year, indicating potential cutbacks in innovation.
- The company faces a challenging macro environment, impacting overall business conditions.
- The need for continuous investment in ad infrastructure and vertical industry solutions to maintain growth.
Good day, and welcome to the Bilibili second quarter 2024 financial results and business update conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Juliet Yang, Executive Director of Investor Relations. Please go ahead.
Thank you, operator. During this call, we'll discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially from those mentioned in today's news release and in this discussion due to a number of risks and uncertainties including those mentioned in our most recent filings with the SEC and the Hong Kong Stock Exchange.
The non-GAAP financial measure we'll provide are for comparison purpose only. The definition of these measures and our reconciliation table are available in the news release we issued earlier today. As a reminder, this conference is being recorded.
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