<div id="readability-page-1"><div id="news-body">(Yicai) May 20 -- Bilibili’s shares fell after the Chinese video-sharing site operator posted a 12 percent drop in first-quarter income from mobile games compared with a year earlier, raising concerns among investors that revenue growth may be losing momentum.Bilibili [HKG: 9626] closed down 4.7 percent at HKD148.70 (USD18.98) per share in Hong Kong today, nearly 50 percent below a year-to-date high of HKD285.60 in January. In pre-market trading in New York, the stock [NASDAQ: BILI] was down 5.4 percent at USD18.93 as of 8.05 a.m. local time, after gaining 1.9 percent yesterday.Net profit was CNY202 million (USD29.3 million) in the three months ended March 31, versus a net loss of CNY10.7 million in the same period of last year, the Shanghai-based company’s financial report showed late yesterday. Revenue rose 7 percent to CNY7.5 billion (USD1.1 billion).Income from mobile games tumbled 12 percent to CNY1.5 billion (USD220.7 million), mainly as a result of a high base of comparison in the year-earlier period following the strong performance of Bilibili’s major gaming title, San Guo: Mou Ding Tian Xia. The game has entered a stable and mature lifecycle, the report noted.Bilibili’s earnings results maintained the overall growth trend seen in the past few quarters, but the decline in gaming revenue was more pronounced, prompting concerns about the performance of new games, said Wu Lixian, a strategist at Everbright Securities International, told Yicai.The great success of San Guo, a strategy game released in 2024, helped Bilibili turn a profit for the first time on a quarterly basis in the final three months of that year. It also enabled the company to log its first annual profit last year, with a net CNY1.2 billion (USD174 million).On the topic of the firm’s gaming business, Chairman and Chief Executive Chen Rui outlined three strategies on its earnings call: maintaining long-term operations, focusing on leading intellectual properties, and rejuvenating the brand. Specifically, Bilibili will launch several new San Guo-themed titles this year and will actively explore the console game market, Chen noted. Other business areas maintained steady growth in the March quarter, the report showed. Revenue from value-added services including premium membership rose 4 percent to CNY2.9 billion (USD422.2 million), and advertising income soared 30 percent to CNY2.6 billion.User engagement also hit a new record high. The average number of daily active users jumped 8 percent to 115 million, while average daily time spent on the site per user increased by 11 minutes to 119 minutes, according to the report.Editors: Dou Shicong, Tom Litting</div></div>

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Bilibili's stock fell 4.7% after reporting a 12% drop in first-quarter mobile gaming revenue, raising investor concerns. The company posted a net profit of CNY202 million, up from a loss last year, with overall revenue increasing 7% to CNY7.5 billion. Despite steady growth in other areas, the decline in gaming revenue has raised questions about future performance. Bilibili plans to launch new titles and explore the console market to rejuvenate its gaming business.

- Bilibili's shares declined by 4.7 percent after reporting a 12 percent drop in mobile game income for the first quarter, raising investor concerns about revenue growth.  
- The company's net profit was CNY 202 million, with overall revenue up 7 percent to CNY 7.5 billion, despite the drop in gaming income attributed to a strong performance comparison last year.  
- Bilibili's Chairman outlined strategies for its gaming business, including launching new San Guo-themed titles and expanding into the console market, while other business areas showed steady growth.

Bilibili’s Stock Price Drops After First-Quarter Gaming Revenue Falls