Bilibili reports Q3 adjusted EPS (63c), consensus (65c)

Reports Q3 revenue $814.5M, consensus $797.03M. Average daily active users reached 90.3M, a 25% increase from the same period in 2021. Average monthly active users reached 332.6M, a 25% increase from the same period in 2021. Average monthly paying users reached 28.5M, a 19% increase from the same period in 2021. "In the third quarter, we took steps to shore-up our business foundation and narrow our losses, while continuing to provide users with the products and services they love," said Mr. Rui Chen, chairman and chief executive officer of Bilibili. "Our DAUs and MAUs each increased by 25% year-over-year to over 90 million and nearly 333 million, respectively. Users remained highly engaged and the average daily time spent on Bilibili reached a 96-minute record high. While our community remains key to our long-term success, we believe it is essential to stay adaptive to the increasingly challenging macro environment. Putting profitability first, we will take additional initiatives to accelerate our monetization and implement cost containment measures including rationalizing headcount planning and cutting sales and marketing expenses, with our goal set to improve our margins and narrow our losses."