Bilibili (NASDAQ:BILI) Releases Earnings Results, Misses Expectations By $4.21 EPS

Bilibili (NASDAQ:BILIGet Rating) issued its earnings results on Thursday. The company reported ($4.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($4.21), Briefing.com reports. Bilibili had a negative return on equity of 41.02% and a negative net margin of 43.21%. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company earned ($0.45) EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Bilibili updated its Q3 2022 guidance to EPS.

Bilibili Price Performance

Shares of NASDAQ:BILI traded down $0.75 during midday trading on Friday, hitting $19.32. The company had a trading volume of 11,835,177 shares, compared to its average volume of 5,272,388. Bilibili has a twelve month low of $14.93 and a twelve month high of $89.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.71 and a quick ratio of 2.71. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of -5.40 and a beta of 1.00. The business’s 50-day simple moving average is $24.54 and its 200-day simple moving average is $24.78.

Analyst Ratings Changes

BILI has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Bilibili from a “neutral” rating to an “overweight” rating and set a $35.00 target price on the stock in a research note on Wednesday. CLSA reduced their price target on Bilibili from $33.40 to $25.30 and set an “outperform” rating for the company in a report on Wednesday, May 25th. Citigroup reduced their price target on Bilibili from $45.00 to $38.00 in a report on Thursday. UBS Group reduced their price target on Bilibili from $40.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays reduced their price target on Bilibili from $26.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Bilibili presently has an average rating of “Hold” and an average target price of $38.03.

Institutional Investors Weigh In On Bilibili

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aviva PLC boosted its holdings in Bilibili by 0.9% in the first quarter. Aviva PLC now owns 77,581 shares of the company’s stock valued at $1,985,000 after purchasing an additional 700 shares during the period. PNC Financial Services Group Inc. raised its stake in Bilibili by 382.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,027 shares of the company’s stock valued at $27,000 after buying an additional 814 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Bilibili by 1.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,000 shares of the company’s stock valued at $1,765,000 after buying an additional 900 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in Bilibili by 39.6% in the first quarter. Advisor Group Holdings Inc. now owns 5,012 shares of the company’s stock valued at $127,000 after buying an additional 1,422 shares in the last quarter. Finally, Toroso Investments LLC raised its stake in Bilibili by 2.9% in the first quarter. Toroso Investments LLC now owns 52,238 shares of the company’s stock valued at $1,336,000 after buying an additional 1,476 shares in the last quarter. Institutional investors and hedge funds own 23.43% of the company’s stock.

About Bilibili

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Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. Its platform offers a range of content, including video services, mobile games, and value-added service, as well as ACG-related comic and audio content. The company's video services include professional user generated videos, occupationally generated videos, and live broadcasting.

Further Reading

Earnings History for Bilibili (NASDAQ:BILI)

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