Bilibili CEO Chen Rui: will concentrate resources on more competitive game projects

CTOnews.com, November 29, bilibili (hereinafter referred to as "bilibili") today released its unaudited financial results for the third quarter ended September 30, 2023. The financial report shows that bilibili's average daily active users exceeded 100 million milestones in the third quarter, with total revenue reaching 5.81 billion yuan. At the same time, gross profit margin increased for five consecutive quarters, and the adjusted net loss narrowed sharply by 51% compared with the same period last year.

In a conference call after the release of the results, bilibili CEO Chen Rui said that the game business has cut some projects that do not meet market requirements and cannot make money, and will concentrate resources on projects that are more competitive in the market in the future. Bilibili has a natural advantage in the game track and needs to turn the advantage into reality.

CTOnews.com noted that bilibili's revenue from the game business reached 990 million yuan in the third quarter, an increase of 11% from the previous quarter. Long-term operation of the "Blue Route", "Destiny-Crown designation" (Fate / GO) and other classic games, still maintain a stable performance.