China-based Bilibili reported fourth-quarter results early Thursday that missed on revenue but beat on earnings, as it also announced a stock buyback plan. BILI stock fell.
The company reported an adjusted loss of 66 cents a share on revenue of $907.1 million. Analysts expected Bilibili to report a loss of 68 cents a share on revenue of $913.8 million, according to Refinitiv. Revenue jumped 51% from the year-ago period.
BILI stock, which was up more than 5% in early trading, dropped 8% to close at 27.78 on the stock market today.
Also, Bilibili announced plans to repurchase 500 million of its American depositary receipts over the next two years. Chief Executive Rui Chen also said he plans to use his personal funds to purchase up to $10 million shares in the same time period.
For the first quarter Bilibili expects revenue in the range of $838.6 million to 870.3 million. The midpoint of $854.5 million is below the average analyst estimate of $898 million.
Bilibili provides an online entertainment platform serving younger generations in China. The platform covers a range of genres and media formats, including videos, live broadcasting, and mobile games.
BILI Stock: Daily Active Users Up 34%
Average daily active users reached 72.2 million, up 34%. Monthly active users grew 35% to 271.7 million.
"Our growth has been substantial as monthly active users more than doubled and top line nearly tripled in the past three years," Chen said in written remarks with the Bilibili earnings release.
He added: "Stepping into 2022, we are committed to our healthy growth strategy to further expand our user base and we will actively explore commercialization opportunities within our tight bonded video community."
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