Bilibili's Hong Kong shares hit 7-week low on missing Q3 estimates

Bilibili

15/11/2024 02:42

** Hong Kong shares of Bilibili  9626.HK  drop 13.5% to
HK$140.5 after the mobile gaming company missed Q3 earnings
estimates
  
    ** Stock hits lowest level since Sept. 25, top pct loser in
Hang Seng Tech Index  .HSTECH  which climbs 0.6%
    ** U.S.-listed stock  BILI.O  fell 12.6% on Thursday
    ** Bilibili reports Q3 adjusted EPS at 0.57 yuan ($0.0788),
below estimates of 0.61 yuan, according to data compiled by LSEG
    ** Cost of revenues grew 9% YoY to 4.76 bln yuan, while Q3
advertising revenue missed estimates
    ** Zephirin Group reiterates "Strong Sell" rating and trims
price objective to HK$95 from HK$90, saying it sees negatives
including high cost, cautious industry outlook and regulatory
oversight
    ** Citi, with "Neutral/High Risk" rating, says the results
are decent with beat on gaming revs and non-GAAP OPM
    ** "With revs mix shifting toward ads and gaming, the
expansion of GPM and non-GAAP OPM looks solid and is likely to
continue ahead"
    ** Hong Kong shares up 57.5% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))