Bilibili's (NASDAQ: BILI) stock price slumped to its lowest levels this year after the Chinese tech company posted its second-quarter earnings on Thursday, Aug. 19. Its revenue rose 72% year over year to 4.46 billion yuan ($696 million), beating estimates by $33 million. Its non-GAAP net loss widened from 476 million yuan to 858 million yuan ($133 million), or $0.35 per share -- but it still beat expectations by $0.10 a share.
For the third quarter, Bilibili expects its revenue to rise 58%-61% year over year. That guidance met analysts' expectations, but investors were likely waiting for a rosier forecast to justify buying the stock amid the Chinese government's crackdown on its top tech companies.
Is Bilibili still worth buying as Chinese tech stocks lose their luster, or will it remain a falling knife for the foreseeable future?
Source Fool.com