Chinese video-sharing platform Bilibili narrowed its loss to RMB 608 million ($83.7 million) in the second quarter,Black Magic Mask (2023) while revenue rose 16% to RMB 6.13 billion. The company aims to break even in quarter three this year. Bilibili paid 5% more in operating costs this quarter compared to the same period last year, due to increased splits with content providers, according to the earnings report released on Thursday. The platform’s average daily active users during the period remained slightly above the 100 million milestone it achieved in the third quarter of last year, but the overall figure was down 100,000 on the previous quarter. The company’s revenue was driven by a 30% increase in advertising revenue and a 13% increase in revenue from its gaming business, of which executives said that e-commerce and home appliances were two of the biggest areas of advertising growth in the quarter. [Bilibili]
