Why Shares of Bilibili Are Falling Today
Shares of the Chinese video content company Bilibili (NASDAQ: BILI) traded nearly 14% lower as of 10:48 a.m. ET today after the company reported earnings results for the second quarter of the year.
Bilibili reported a net loss of $0.73 per American depositary share on total net revenue of nearly $733 million. Earnings missed analyst estimates while revenue beat.
"Confronting the immense challenges of the macro-environment and COVID-19 lockdowns in the second quarter, we are pleased to have continued to grow our high-quality user base and control our expenses," Bilibili CEO Rui Chen said in a statement.
Source Fool.com
