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Why Bilibili Stock Plunged This Week

TheMotleyFool

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Shares of Bilibili (NASDAQ: BILI) fell 18% this past week, according to data from S&P Global Market Intelligence, after the video-sharing site reported mounting losses and issued a tepid sales forecast.

Bilibili's revenue rose 9% year over year to 4.9 billion yuan ($732.9 million) in the second quarter. The China-based company saw its average monthly active users jump 29% to 305.7 million, while its daily active users increased 33% to 83.5 million. Its average monthly paying users meanwhile, leaped 32% to 27.5 million.

"We grew our advertising market share, bucking broad industry trends," CEO Rui Chen said in a press release.

Source Fool.com

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