Why Bilibili Stock Fell This Week
Bilibili (NASDAQ: BILI) shareholders lost ground to the market this week, as the stock fell 6% through Thursday trading. That's compared to a 0.4% increase in the wider market, according to data provided by S&P Global Intelligence. The China-based social media specialist is now down roughly 33% so far in 2022, compared to a 10% rise in the S&P 500.
The latest decline came after Bilibili reported strong sales growth, paired with continued struggles on the profitability front.
Revenue was flat for the Q1 period that ran through late March, the company said on Thursday. The company posted much higher advertising revenue, but this increase was offset by a decline in its casual gaming segment. Good news for the business included an 18% increase in daily active users, up to 94 million, and healthy average engagement, at 96 minutes per day.
Source Fool.com
