Bilibili Inc. (BILI) stock becomes bearish pre-market, trading at $82.83 (-6.92%) on November 17, at a pre-market volume of 145.2K. In the previous trading session, the stock gained 4.30% at a volume of 4.09, as it closed at $89.02. Intraday trading, the stock saw a high of $89.80 and a low of $87.11. Over the past 5 days the stock saw a gain of 9.48% while it witnessed a gain of 86.04% year to date. BILI has a market capital of $33.12 billion currently. On November 17, the company announced its third quarter financial results, soon after which the stock entered a downtrend in the pre-market.

More about Bilibili Inc. (BILI)

Founded in 2009, Bilibili Inc. (BILI) is a holding company, which represents the iconic brand of online entertainment for young generations in China. Its platform offers a range of content like, video services, mobile games, value-added services, ACG-related comic and audio content.

The company is headquartered in Shanghai, the People’s Republic of China.

BILI’s Q3 Financial Results

On November 17, the company announced its unaudited financial results for the third quarter ended September 30, 2021. As per the results, the total net revenues generated were RMB5,206.6 million (US$808.0 million), showing an increase of 61% from that of Q3 2020. Moreover, the cost of revenues was RMB4,188.1 million (US$650.0 million) which increased by 70% from that of Q3 2020. The total operating expanses accumulated to RMB2,896.5 million (US$449.5 million), which increased by 57% from the same period of 2020. Additionally, the gross profit saw an increase of 34% from Q3 2020, to stand at RMB1,018.4 million (US$158.1 million) in Q3 2021.

Further, the non-GAAP adjusted net loss of BILI for Q3 2021 was RMB1,622.0 million (US$251.7 million). While the non-GAAP adjusted net loss for the same period of 2020 was RMB967.1 million. Accordingly, the adjusted basic and diluted net loss per share were RMB4.16 (US$0.65) for the third quarter of 2021. While the adjusted basic and diluted net loss per share were RMB2.70 in the same period of 2020.

As of September 30, 2021, BILI had cash and cash equivalents, time deposits and short-term investments of RMB24.4 billion (US$3.8 billion).

While the company showed great revenues and other financials, the losses it incurred put the investors in question of the stock’s current value.

Q4 Outlook

Based on current results, BILI expects net revenue in range of RMB5.7 billion and RMB5.8 billion for the fourth quarter of 2021.