BEIJING (dpa-AFX) - Bilibili Inc. (BILI), a Chinese online entertainment platform, Thursday reported net loss of RMB79.52 million or $11.4 million for the third quarter, 94% percent lower than RMB1.351 billion in the same quarter a year ago, primarily helped by growth in revenue.
Net loss per share was RMB0.19 or $0.03, compared with RMB3.26 loss last year.
Excluding one-time items, the company posted adjusted profit of RMB235.9 million or $33.6 million, compared with an adjusted net loss of RMB863.5 million a year ago. Adjusted earnings per share was RMB0.57 or $0.08, compared with an adjusted loss per share of RMB2.12.
Net revenues were RMB7.31 billion or $1.041 billion, up 26 percent from RMB5.805 billion in the previous year.
Mobile games revenues increased 84 percent year over year to RMB1.82 billion or $259.7 million, and advertising revenues were RMB2.09 billion or $298.5 million, up 28 percent from last year.
Average daily active users (DAUs) were 107.3 million, up from 102.8 million in the same period a year ago.
Additionally, Bilibili said its Board has authorized a share repurchase program under which the company may repurchase up to $200 million of its publicly traded securities for the next 24 months.
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