produced| Tiger Sniff Pro Investment Research Group
Author | Chen Manlei
After the market on August 26, Eastern time, BILI (BILI) released its second quarter 2020 earnings report. From the data point of view, the company continued its good growth momentum in Q1 during this period, achieving revenue of 2.618 billion yuan, slightly higher than the previously expected 2.55 billion yuan, an increase of 70% year-on-year, and a 13% month-on-month growth is also a good data. . From a business perspective, the advertising business and live broadcast business of station B grew fiercely this quarter, which was the main force driving growth.
The performance of user data is worse. Although there is still a substantial increase year-on-year, the quarter-on-quarter decline has shown a slight decrease. Of course, considering the impact of the epidemic in Q1, the number of users on various platforms has been stimulated by home quarantine and there has been a general abnormal increase. After the quarantine policy is cancelled, some new users have been given up. Therefore, the number of users of station B has declined and The environment is more related than its own problems.
Although the revenue is higher than expected, the capital market does not seem to be particularly satisfied with the performance of Bilibili Q2, perhaps because compared to Q1, station B did not exceed expectations much in this quarter. On the trading day when the financial report was released, Station B closed at US$48.72, an increase of 3.66% from yesterday; but after the release of the after-hours financial report data, it fell sharply by 5.48%, and the current price is US$46.05.
Another season has passed. This time, what is the joy behind the “Small Pozhan” financial report, and what is the worry?
How did Bilibili’s business perform in the second quarter?
In this quarter, the revenue of station B still achieved a year-on-year double-high growth. The advertising business and live broadcast business of the four business lines grew well, driving the overall revenue to continue to rise, and the company’s effectiveness in breaking the circle became increasingly obvious.