BILI - Earnings call transcript Q3 2024

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Operator

Good day, and welcome to the Bilibili Third Quarter 2024 Financial Results and Business Update Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Juliet Yang, Executive Director of Investor Relations. Please go ahead.

Juliet Yang

Thank you, operator.

discuss outlook we'll statements. make call, this our and business forward-looking During comments predictions our based expectations These on today. and are as of or comparison of Hong Exchange. The we'll most risks recent materially Kong differ uncertainties, including news Stock this results with purpose in mentioned are and due provide events our mentioned discussion number today's in release measure the from a non-GAAP to filings only. financial those in for and Actual those could SEC and reconciliation a release and are measure available today. news this of definition the table we in The earlier issued

this As is a reminder, conference being recorded.

presentation In addition, IR an of a investor the at be website and will conference available Bilibili on this call replay ir.bilibili.com. webcast

Executive Joining Bilibili Fan, Vice Rui management Li, turn Chairman and Officer; Chairwoman Chen. us of Mr. to the Chief Officer. I Operating Financial are the Sam Ms. senior Mr. from call Officer; and Mr. Board Carly of today now Chen, will Chief Chief and the Board

Rui Chen

Thank conference participating you, results. to Juliet, and remarks. third deliver and today's to I'm our call quarter operating pleased opening for financial our in discuss thank you, everyone, XXXX

third The was of for landmark quarter Bilibili. quarter XXXX a

These new We across quarterly adjusted unlock. and the setting to that continue our our value achieved we first our are profit strong to while community deliver share excited net testament a profitable growth that we milestones metrics. to to are records ability unique community

our advertising accelerated, same a line rising games XX% from contribution strategy our advertising XX.X% led the successful increase. increasing driving gross year-over-year, revenue by gross performance The and the our period more our year-over-year our Meanwhile, game profit margin strong last to surging in XX% from in propelled up jumped year-over-year, third XX.X% XX% profit, recording Looking third XX% detail. by maintained in growth, high-margin in its quarter, business by top Games year. financials quarter RMB revenues our genre. at the business driven our X.X Total reaching into diversification by year-over-year. billion, the

a an we million. successfully our commitment adjusted XXX exceeded quarter, breakeven achieving operating to XXX adjusted of of an result, RMB reaching third RMB profit and As profit net in the million

making to quarter, XXX and XXX grow high minutes community. highs continue average reached DAUs in our to hitting Meanwhile, Both MAUs rose user and progress, retention third per the new million, spent record XXX million a remarkable While and the daily respectively. financial we cultivate with robust of user engagement. and time

age stayed the Bilibili have Our with The average users with platform. users grown us of now XX. and is

we with life continue cater new to these will diverse and curate content power, evolving spending enter As to users more increasing that stages their needs. services

remain and ahead, we committed building with you inspiring all video the to a welcoming videos Moving community like.

we to in point profitability Our our return journey.

leading video distribution, our We invest creation infrastructure that position in will space continue to and value supports creating all in for reinforcing the and high-quality content key our stakeholders.

effectiveness encourage -- more X.X our year-over-year. video at the overview, pillars to categories the community look of with quarter, daily core content, that billion, creation. high-quality let's With views In community. our The growth detail, content commercialization beginning third average strategy content broaden exceeded XX% Tantan up reflects and our and in

love. offer surged sports empower commercialization content continue with baby channels categories, automotive, what in grew compared the and While we home is their Video year-over-year, our last period and than This increasing fitness by the and while and rising. by by year. The views consumption-related creators pursuing to XX% user their our maintained XX% society. driven generation to same young in while fashion demand categories realize leading commercial over views categories being popularity, becomes as maternity, of the diverse value more continued appliances mainstream they decoration consumer

total same creators' our the period. our various through charging X income X.X and period. creators VAS content platform. million total XXXX, content channels of XXX% through first income the Content this creators' year-over-year XX% received various by Notably, fan products grew through in saw during nearly income product on advertising months increase over For our an

our the compared nearly to our the community third quarter, year. platform every period minutes on minutes our XXX spent DIU with metrics. Turning last same In day in XXX

marking million monthly rate year-over-year surpassed a to our end around XX-month Our grew interactions XX.X increase. retention the member's billion, By remaining XX% our QX, XX%. official XXX of with

League World sponsored in the Game, marking to BLG, a fought Championship, place new history. of our in eSports Bilibili team's SXX team, way the Additionally, second their record Legends

We year. success in of look continued are proud their achievement forward to the their upcoming and

year, A the testament ESG and ESG dedication practices steady an this where community our underscores support few our This to our a continue we improvements to our young for years. not over positively. that excited game share but to MSCI ESG to Last past Bilibili these the our our advancing upgraded was leadership to the communities are make influence least, in impact like society achievement and to rating use Events generations. top choice we

I'd in like lines. about of commercialization our talk Now the progress business of to our each

third revenues of Guo. business. by confidence X.X on increased outstanding performance reinforces in of performance San the First, XX% Guo San year-over-year games driven Games the quarter, the billion, strategy our [indiscernible]. In initial our our game's RMB by The longevity our game, to

our potential titles opportunities unique community. and to San gameplay our success gaming explore experiences to advantage to further continue bringing Guo's leverage game other committed within new plan lies different users. game we genres. Meanwhile, We out vast the industry shows updates our to to will deliver that best in to roll users. We remain content to better ACG game the

they FGO as titles, their respectively. Azur anniversaries, their seventh-year popularity eighth maintained and Our celebrated legacy and Lane

launched was the in November, wines well markets [indiscernible], Japanese game, Pared, Joshua, overseas we in RPG which addition, Santen In received.

to advertising Turning our business.

quarter. the third third XX% the year-over-year performance-based Our advertising was increasing billion. industry ads XX% contributor, year-over-year the growth revenue outperform to Advertising in Robust continued business to increased revenues by RMB quarter. the nearly largest in X.X in our

growth decent capabilities. and reinforcing integrated year-on-year achieved also revenues, marketing in strength ad native in brand We our

verticals digital third games, and e-commerce, the Our services were quarter industry and top in advertising appliances, home products Internet automotive. X

young As XX% also from advertising uptick we year-over-year. all attracting the back-to-school platforms and revenues. We more vacation year-over-year the base, more Meanwhile, the our lodging allocated resulting e-commerce surge budgets in XXX% verticals. are education, quarter, over summer particular maternity, of and user advertisers e-commerce over platform. they from unique in to baby In emerging value a travel saw advertising season, our an revenues and third and larger grew more by ad recognize and commercial

have enhance In efforts. benefits from addition, to early these our ad we to continue we and improve seen efficiency, infrastructure

for system, and increased by AI advertisers quarter. we XX% of advertisers of platform. series and into placement our to effective system delivery example, retain on higher performance-based lower ad incorporate further roll initiatives are These year-over-year and For efficiency the as ad launch with creation and number our more attract material smart out a the over third more in expected user-friendly plan costs. technologies ad We a tools to

VAS Turning to our year-over-year billion business. X.X quarter. Revenues by RMB business our third in increased VAS from the to X%

sustainable Simultaneously, universe welcomed enjoy our users business to This offerings we refining our to improving quarter, ensure we diverse broadcasting the operations their on and meet content more remain growth while as focused margins. we interests. to our expanding continued join live

on XX reaching members renewal members grew annual steadily packages. in or quarter. membership XX% auto of third the million subscription Over nearly year-over-year, premium program are Our these

growth. year-over-year experienced the to over for rapid products other users' demonstrating strong Fan-charging quarter, during good revenues pay our Additionally, surged content. XXX% by willingness VAS

celebrate want supportive and community our partners quarter I dedicated we shareholders. our our first profitability, our and As of team, thank to loyal user

commercialization competitive made significant we've years, XX helped one-of-a-kind past a experience user the These user video products. our with landscape. build expanded offerings, breakthroughs unique develop over diverse back and a in Looking community our have content industry efforts in a base

Building just reinforce positive our in to will a beginning. new future. business' drive this sustainable on milestone, we continue is the profitable growth profits cycle Turning to

Sam call to I that, details. more share will turn With financial the to over

Xin Fan

This Chen. Sam. for Mr. I will XXXX. overview brief provide Thank now you, a of results financial is everyone. of quarter our third Hello,

press a to we issued our results, earlier at to today. encourage financial closer refer you look For our release

our otherwise the businesses, and profitable noted. quarter revenues quarter, XX% billion, the were expanding In As basis. third X.X a RMB amounts profile. we third in across on greatly RMB our We our margins Total are up our improved turned growth for core reminder, non-GAAP all a year-over-year. financial revenue accelerated year-over-year continued unless

XX% Our total XX% XX% revenue mobile IP breakdown VAS, and by advertising, games directives X% approximately from our revenue stream QX for businesses. was other and

by RMB X.X cost X% quarter, XX% increased to Our the revenues of while to in year-over-year billion profit X.X gross third billion. year-over-year rose RMB

margin reached elasticity year. our significant The gross in the gross and period XX.X% our profit and business indicates QX, of in last this same model. in XX% margin quarter profit from gross up improvement the potential profit Our

billion for in exclusively X.X year-over-year total due X.X year-over-year expenses and billion, expenses were X% third operating RMB up our by games. to increased Sales RMB increased XX% to Our quarter. marketing expenses to the mainly licensed marketing

G&A million, due year-over-year. expenses for XXX base game purchases certain were expenses XX% which a RMB was relatively QX termination year-over-year in year. XXX were to of R&D expenses down million, RMB higher last flat

net turned year-over-year at marking RMB losses. from significant positive million Our adjusted gains profit operating profit and XXX and XXX adjusted respectively, RMB million,

cash profit RMB compared RMB in in positive XX% a cash ratio year and third months flow flow same the X.X in net X adjusted flow-wise, in quarter the we with net third billion billion quarter X% in year. was operating of generated positive the of loss Our ago. Cash ratio adjusted X.X period operating an first the the

and we equivalents, As and cash or had RMB billion deposits XX, of billion. short-term of time XX.X September cash USD XXXX, X.X investments

to for returns million showcasing We please for to open balance, we call enhance you the to up for commitment With the now your your term. Operator, healthy long questions. in XX cash a go a XXX next share program shareholder our attention. ahead. USD Thank our would repurchase of securities announced to months, like the

Operator

We Bank the first of Securities. now line Zhang Lei our America from of question will take from

Lei Zhang

focus high strategic it's on that commercialization [Foreign strengthen And our on how strong call Congrats My first on going I to this after to want the See on results. time, and bill view for the very really forward? trading user [indiscernible] redo know English and rate and prediction well what industry? breakeven our in is is pretty management impressive. level, quarter, key our in Language]

Rui Chen

Language] [Foreign

Juliet Yang

for better just their for when users. on shows PDF make such by English seconds that that spoken use our actually, self-developed proprietary not event by and spoken of of was X by a first narratives those was [Interpreted] only do content it prepared like quite index hear XX that And I potential remarks remark. could So during prepared of was my me. to me as generated English Bilibili with model careers engage time surprised vast it, It's the I me, application the sounds the it's our AI. real helping speech generated really the

quite are forward We that our leverage further applications. looking to to

Rui Chen

Language] [Foreign

Juliet Yang

[Interpreted] believe matter but I we faster. of fact, industry. marks of very of Indeed, and model profitability. quarter our of of just as And adjusted congratulations of made this And expansion a evolvement we from a do first lot this business and receiving investors, it now, a the the our just is natural outcome was happen friends

Rui Chen

[Foreign Language]

Juliet Yang

I the profitability. logic that's [Interpreted] where little So into get on I back right like futures, we driving look our a bit and would stand before to now

for China market. First business. unique are of industry, a video large is have a-kind and built largest user in of the very mindset. high-quality Bilibili that we has known large all, very PUGV community is that that secured China within And industry video content, itself And And market wine is low market. video a in, the industry a the we and video

Rui Chen

Language] [Foreign

Juliet Yang

large awareness, you is find, up. media as And #X really serve go-to that will we find when mid- highest highest the to always for or is is this gold. the outlet, -- as Bilibili market. #X brand precious name brand longer of destination platform talented video of content a in market, as find to content the thinking and because to user what and So videos. for creator, [Interpreted] this the video quality that main of pops the what's about is can the are think lines such mindset where

Rui Chen

Language] [Foreign

Juliet Yang

from XG, video, of XG has video. network, look enough look from wanting video at of supply any [Interpreted] a unique to the wanting of video they perspective, adoption Well, our user to And at as lack supply content. evolved evolved from video to have of market high-quality to content

we terms instance, has in So an market. riding user in advantage mindset are that about video high-quality of because we awareness brand trend, And in on those consumption some experienced Bilibili content that upgrade content. unique have and

Rui Chen

[Foreign Language]

Juliet Yang

and we the [Interpreted] now have XX XX XXXX user the the user As that and we user retention Gen has because years. past with to has highest the grown of of average very years, know age stayed Zs sticky us. Bilibili rate, And [indiscernible] cohort [ and high XXs, generation, come has cohort, ] our the over Bilibili

commercial day. our So trend profitability. commercialization every is see for XX think inevitable And our will potential increasing that an commercialization there's going we it's value of means to reaching we and is forward, outcome accelerate their also That's this unleashed. a why be vast natural

Rui Chen

[Foreign Language]

Juliet Yang

in be our on future commercial our focusing unchanged. the reaching the focus past, profitability, our growth have focus -- remain in stated and will And growth. [Interpreted] community After the will we

Rui Chen

[Foreign Language]

Juliet Yang

efficiency and remain those and result I'll terms Because one as X growth. segments, business will higher by its core even in commercialization [Interpreted] share we'll games On more the focused more for that business, higher commercialization, it nature, gross our in they on margin TAM market such has advertising. that thing of is and have

Rui Chen

Language] [Foreign

Juliet Yang

success content ecosystem, quantity positive of flywheel growth. the we been our ecosystem our of And and that the also will our have formation [Interpreted] prosperity effect commercialization commercialization and pursuing of support the between

income As Bilibili our one more a various matter has first content of fact, X.X and creator commercial to received in platform creator value on commercial helping million their commercialization hence, creation. realize our leveraging months content in and of X outlet, motivate this those content of way further their in year, the

Rui Chen

Language] [Foreign

Juliet Yang

beyond I connection just to we is advertising value, followers. more help establishing more their Bilibili's comprehensive between and commercial [Interpreted] wanted commercialization a platform, their to we than them are And outlets, provide thing that because realize one for emphasize it's advertising tool

example, top platform, the program. fan on we our charging ad For native advertising Sparkle have of

them also [indiscernible] and various scale handcrafts money monetize their to have make encourage ways. and also We to help in creators courses content such as drawing to premium

Rui Chen

Language] [Foreign

Juliet Yang

our profitability our a in flywheel a an growth. of look forward The achieve become by in commercialization and And even form the organization healthier growth content effect just commercialization formed growth. to sustainable, profitable ecosystem [Interpreted] QX positive to beginning, fact, is help the and and Bilibili will, we

Operator

comes question next from Our JPMorgan. from line Chen Daniel of the

Qi Chen

which very [Interpreted] is advertising, strong. So my question on is

XX% We have year-over-year grown in third the quarter.

key the for we what's fourth kind the a also change the growth? demand? our driver how e-commerce-related macro third there our is the the And for And XX the is performance see for quarter lastly, So quarter, also behind in advertising advertising do business? festival in of Double environment

Ni Li

Language]. [Foreign

Juliet Yang

billion and helping reached a performance. XX%. advertising driving performance-based maintained and to of gross QX behind strong close was growth a Bilibili's a indeed [Interpreted] revenue rate that And good us nearly It ads was X.X level. group margin RMB and on XX%, grew this is our

Ni Li

[Foreign Language]

Juliet Yang

in a X generate quarters. page tablet maintaining platform experience. inventory home also [Interpreted] a even recommendations, In grow we On on was X infrastructure first recent By multi-scenario released structure search, platform e-Home, multiscreen, be [indiscernible] commercial and PC inventory specific more to and our rapidly more ad referring user ad on emphasizing construction. -- the mode and while strategy, we increased our QX, that revenue across continued maintaining story good increased To and more feed on strategy. to point,

Looking revenue of on video and within forward, additional video from traffic and that, of organic there's a search. also players blend potential hot for live streaming commercial And through topic and content top content ad more ad we integration, commercial At is effect. effectively expanding achieved a ads native more good and high-quality received time, commercial inventory. good good the distribution same is have our more

Ni Li

Language] [Foreign

Juliet Yang

ad point quarter, placement of the [Interpreted] system. further by year-on-year. and In mobile smart that The increased second XXX% placement clients optimized number third is we app our the

ad and We placement tools easier. our to products will continue to make improve

that and ad demonstrating with further Sparkle Another XX% ads proportion Sparkle integration our the promotion of model. ads reached services AKA the the ad Sparks Plus QX system, nearly engaged in be of in effectiveness promotion of our example would and

Ni Li

[Foreign Language]

Rui Chen

in ad would our placement The ad and And QX, to of connect cost AIGC algorithm [indiscernible] be help automatically content create [Interpreted] advertisers We third improving attract their AIGC or additional our with point continue and create to materials, enhancing to to users. and content more the we to also wanted to our tools efficiency Bilibili lowering further modify has launch Creative to barriers. experience, Center plan we'll roll improved app new also out advertiser efficiency.

Ni Li

[Foreign Language]

Juliet Yang

daily vertical services the end #X, coming and products have home the times appliances, #X refers to sectors, leading game brands zone in like automotive. for In we solutions and games digital market Huawei from, experience digital verticals genre one from mini industry top and top the products And share. and ad as launch apart in X placement products on leading we example Bilibili. or [Interpreted] our QX games, to e-commerce new sector tech Apple, quarter-over-quarter. we Vivo that by ad sector, the And online clear advantage to increased expand on this verticals XXX% attract app continue their In our

to festival more And and have our all will attracting as e-commerce we growth, player, brands for we XX% our big sectors reflecting place value e-commerce as Bilibili. are the advantageous captured budget back-to-school ad in summer nearly saw the maternity, we In in choosing reachieved festival more ads those our to advertiser with QX, they industries industry from advertising users. And travel revenue more categories, QX, and platform see while during continue like launching, brand more In seasons, the Bilibili's in you e-commerce well high expand periods, and high value advertising education, strengthening baby non-shopping et more the platforms QX, and advertiser but verticals. cetera, the of during up high-quality actually seasons, audiences. shopping in are young year-over-year. our to vacation Traditionally,

Ni Li

[Foreign Language]

Juliet Yang

the we Pinduduo XX%. for merchant live partner and rates e-commerce the XXX% from content e-commerce a sectors, VIP strategy, maintained cetera. Double and shops, over we those like the XC Among XX, beauty trusted maternity, participating and increased bring platforms For open-loop to GMVs and Jingdong, year-on-year, Alibaba, digital exceeded shops. [Interpreted] customers become and XX% creators et deep video rose across all home on baby and average products, new decor, customer including by our

new also in XX us have helped across key XX% to the Double eCommerce this for all revenue source period. the close customers We increase platforms. And during ad become achieve to year-on-year

Ni Li

[Foreign Language]

Juliet Yang

that macro varies from to the environment, industry. budget, still condition -- under the advertisers' industry perspective, mentioned the macro industries. -- current in our about bring there is uncertainties how You environment, Well, advertising some by asked [Interpreted] but changes different

example, products are while seeing the subsidy beverage, policies recovery. the to and strong in appliances a factors on and digital and national regain care by such confidence are in market sectors we real more gradual and way home health industries, the term. long For as mid- beginning supported in And to fashion and food and education tight remain beauty a expect estate. the remains about we fluctuations as domestic Even the though optimistic short-term such different economy budget automotive, across confident

Ni Li

[Foreign Language]

Juliet Yang

remain faster our various Carly's we revenue, can further industry for concludes advertising this Bilibili's -- than in increasing in rate we shares that advertising That across to our all confident industry verticals. growth back Going revenue answers. average [Interpreted] and maintain QX

Operator

line comes Yang question from the Stanley. Morgan of Liu from Next

Yang Liu

operation future? in also future My game would to user [indiscernible] the user like also about and is the the the in also, about also the the than this is what And the and thought performance question in [Interpreted] business acquisition outlook potential game grow acquisition game? and My this and management Bilibili's game pipeline XX% for planning and hear I future question in business, the is the about -- which for new quarter. third [indiscernible] more

Rui Chen

[Interpreted]

Juliet Yang

stage about X. entered Xia Mou now [Interpreted] into San X, we're game Season Guo: enter Ding the and The has Tian to of game in season has game

in San we've what proudly the this gaming can of is market best-performing that year. China far, on we games the seen based one Mou So so say

Rui Chen

[Foreign Language]

Juliet Yang

care most when [Interpreted] years. And Besides and at is XX longevity long-term sustainable what I the I to performance, say years, X of short-term and I'm the longevity X referring operation the least to Mou. San operation,

Rui Chen

[Foreign Language]

Juliet Yang

the have that and this of of terms among preparation plans we the in extensive the and industry. in achieve the of operation, seasons, game on goal in to in highest operation level long-term strategy. initial performance X phases user design made first retention And R&D the we the engagement are say Based can rates the [Interpreted] and genre

Rui Chen

Language] [Foreign

Juliet Yang

featuring we users new [Interpreted] gaming new update new game new Day be confident will brand we with a will engaging with season, and characters the quite launching tomorrow, And and are XX, star content for game we'll be after fun the November and new provide even line version the more season map gameplay. experience.

Rui Chen

[Foreign Language]

Juliet Yang

might from closed a to you collected is day has Mou to [Interpreted] the feedback behind latest Season X, innovation compared many, beta The the X. of genre And have lot of differentiation similar reason we know and the games. our that testing San many that many users' from done

and adjustments We on reputation have to those and their our based the that user's on X. welcomed our new best the improve we forward, feedback user feedback. feedback. to within to to the our also going company our got feedback, we And proactively And give And continue to best user and adjusted actively users of to Season new based and engage -- we game will following with games listens their experience. them listen brand make listen optimize have advice the seasons,

Rui Chen

Language] . [Foreign

Juliet Yang

of forward experience be really San a international title. year, users will continue game to of year big the strategy resources for to game in for the the be half very gives single worldwide. also we launch be we priority game. Mou's bring our focusing user operators, next be [Interpreted] we this Chinese because and look second this particular will And of will X this have Guo to we with high-quality optimizing the focused San So will starting best say to on that when version, this the this goal and and starting traditional developers And of preparing top the optimize on I engagement. genere, game, And team as this longevity also my strategy user

Rui Chen

[Foreign Language]

Juliet Yang

we our ACG of of and of be genre and strategy [Interpreted] the year, next young have to adapting top pipe And new strategy to and can the new success hopefully succeeded on testament the games new Bilibili strategy looking San methodology this the young of reinventing for for the And in and generations new be explore genere generations. to Game. genre a Guo games we'll reinventing through a another genre, bring is

Rui Chen

Language] [Foreign

Juliet Yang

in except China [indiscernible], international version noticed, November Kaizen you and And globally, launched the terms Japan of we of on have Jeju [Interpreted] X. many successfully the

so far, #X results. achieved very Downloading And and Charts we countries more have game The good reached than XX in Top regions.

attempt so user been global games first also far, be And the And sustain our very successful our a one has important This at and feedback marks this positive. will for particular very XXXX, very distribution it to of ACG games. in of gain propel.

Operator

next comes Liu question the from Felix Our from UBS. line of

Felix Liu

financial quarter. [Interpreted] My profitable turning more side. on Congratulations the on question is this

is that -- So and this you share year repurchase also, sorry, are profit successfully what profitable GP you And this program. the your after announced margin outlook turning noticed we quarter? margin

shareholder So forward? how should we think about reward your scheme going

Xin Fan

also million. previous our I your answer breakeven XXX not result goal, adjusted business In potential This our we but RMB only achieving by of met QX, is question. committed This Sam. exceeded the of will model. an demonstrate

are down further in of allowing believe gross growth long-term revenue. continued to [indiscernible] improvement our of for gross was year-over-year This XX% of margin. business, effective game the revenue high-margin they this control mainly QX fixed the that and Our and rise We grew with the with points profit margin XX% from XX%. to due of to significant was by the of nearly profit when in gaming increase costs. improvement XX our profit gross XX%, advertising our share increase close

background with a -- out that quarters it's business reached while increase to is operating USD we our return million cash healthy flow announced be X.X next that months report This the XXX mentioning for in to QX billion. billion in we the indicates reaching Additionally, to RMB worth positive cycle. operating financial cash our our first That's RMB flow to X that over the heading our our X.X XX shareholders. also plan repurchase carried the

in balance, the look QX RMB of if that revenue by our deferred end for to quarter-over-quarter, million ahead QX. increased Looking foundation balance laying QX, at solid XXX you

margin non-GAAP business in from gaming to improved operating profit strong income. further So gross we further expect improvement quarter-over-quarter the advertising with a momentum, revenue and deliver growth maintain and

Operator

now Sachs. take line Goldman Kong will question the We of our from from Lincoln last

Lincoln Kong

September, [Interpreted] macro big and more end those is more policy. coming. terms in question of the of have shift we stimulus quite My Since about a seen policy

we advertising, seen any of user in the propensity? live streaming gaming, terms incremental better trends So from have level, paying company's or business

Rui Chen

Language] [Foreign

Juliet Yang

a perspective, recently, we very felt positive view this And to sectors policy environment to to of being as government's and economic growth. introduced. its business that -- We signals From see the improve government's [Interpreted] are to determination we business reflects pleased encouraging ourselves. economic highly series commitment a policy we the also attention private the

Rui Chen

Language] [Foreign

Juliet Yang

the just overall and has in for of matter time the simply [Interpreted] While direction of and take it's some are still been set to might as policies pipeline these think time clear. their effects materialize, a we but

Rui Chen

[Foreign Language]

Juliet Yang

of part is economy [Interpreted] part broader economy Bilibili of platform key is the China. a in the

when overall economy improvement. from will Bilibili improves, that undoubtedly the So benefit

Rui Chen

Language] [Foreign

Juliet Yang

more overall next path growth, and course, commercial attention and company, the on planning and specifically are of we development, [Interpreted] profitability achieved we for year year our a as Well, be our own paying community we to in will content growth, improve improve the economy to wouldn't give improve to to We'll how we visitors. our better will business product we the on We model own our drastically. -- afterwards. our be factor can focusing what do to

Rui Chen

Language] [Foreign

Juliet Yang

is much forward and always to better beyond the has stimulation development this and tied a very the future. are I'm also because can policies healthy landing to looking Bilibili users for known that so sustainable, company Well, focusing our generation, those long-term [Interpreted] user of on been bring the

Operator, Thank concludes that today's call. you.

Operator

you once the Business Third Quarter Results concludes and today. session. Thank XXXX question-and-answer that Bilibili's And Conference you. Financial Thank for again Call Update joining

the contact for you marked Yang, were information Executive any live this are by transcript the U.S. questions, on Thank Juliet IR call.] of on found IR be [Interpreted] further and of an Contact If can have Picante day. [Portions have a in press today's interpreter Financial Bilibili's China that spoken Communications. great both and present please release. Director you,

Bilibili (BILI) 14 Nov 242024 Q3 Earnings call transcript