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May 16, 2019

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Bilibili posts losses

Shanghai’s video and gaming site Bilibili has announced losses in the first quarter but its sales increased, boosted by advertising and gaming income. The adjusted net loss was 145 million yuan (US$21 million) compared with 3.2 million yuan the same period a year ago. That was due to increasing expenditure on sales, marketing and content production. The user-generated video site reported a 58 percent increase in first-quarter revenue to 1.4 billion yuan.


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