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<Research>Haitong Int'l Forecasts Bilibili (BILI.US) 1Q Rev. to Lift 11% YoY; Adj. Operating Loss RMB558M
Recommend 18 Positive 28 Negative 11 |
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Haitong International predicted in a research report that Bilibili (BILI.US)'s 1Q revenue is expected to rise 11% YoY to RMB5.6 billion, but fall 12% in QoQ terms. Adjusted operating loss for 1Q is expected to narrow 48% YoY to RMB558 million. The broker expected advertising and value-added services (VAS) to drive growth in 2H, while the game business is expected to rebound. Haitong maintained a target price of US$16 and an Outperform rating on Bilibili's US shares. According to the report, advertising will be the main driver of Bilibili's revenue growth in FY24, with games and e-commerce advertisements continuing their strong trend. The company's new partnerships with BABA-SW (09988.HK) and JD-SW (09618.HK) will accelerate e-commerce advertising growth. Haitong expected Bilibili's advertising revenue to reach RMB1.6 billion in 1Q and RMB7.7 billion in FY24, hiking 27% and 20% YoY respectively. Revenue from live streaming and value-added services (VAS) is predicted to reach RMB2.5 billion in 1Q and RMB10.9 billion in FY24, rising 15% and 10% YoY respectively. Revenue from games is estimated to reach RMB1.0 billion and RMB4.2 billion in 1Q and FY24, down 11% and up 4% YoY respectively. AAStocks Financial News |
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