SHANGHAI, Aug. 27 (Xinhua) -- Chinese online entertainment platform Bilibili Inc. on Thursday reported a 70 percent growth in revenue in the second quarter (Q2) of 2020, as its growth strategy continues to attract more users and business partners.
Total revenue topped 2.62 billion yuan (about 380 million U.S. dollars) in the quarter, an increase of 70 percent from the same period in 2019, significantly ahead of market expectations, the Nasdaq-listed company announced in its unaudited financial report.
Bilibili's average monthly active users hit 172 million, representing an increase of 55 percent from the same period of last year, while its average daily active users reached 51 million, up 52 percent year on year.
Revenue from mobile games increased by 36 percent year on year in Q2 to 1.25 billion yuan, while revenue from value-added services, led by increases in the number of paying users for the company's premium membership program and live broadcasting services, was 830 million yuan, up 153 percent compared with the second quarter of 2019.
"During the second quarter, we launched several successful marketing campaigns to raise brand awareness and improve brand perception, while actively expanding our content offerings, all of which led to our fast and healthy user growth," said Chen Rui, chairman of the board and CEO of Bilibili.
The company expects its net revenue to be between 3.05 billion and 3.1 billion yuan for the third quarter of 2020. Enditem
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