Beijing News, Shell Finance News (Reporter Bai Jinlei) Chen Rui, Chairman and CEO of Bilibili, stated during the 2023 Q4 financial report conference call that it is expected to achieve a positive adjustment in operating profit in the third quarter of 2024.
Chen Rui stated that there are two most important tasks for Bilibili in 2024: firstly, to achieve the goal of profitability. Bilibili will continue to strengthen its commercialization ability, improve operational efficiency, further optimize gross profit margin, manage expenses reasonably, and have confidence in achieving adjusted operating profit in the third quarter of 2024 and starting to make profits. Secondly, Bilibili will maintain the healthy development of the content ecosystem while ensuring profitability, ensuring a good reputation and mindset in high-quality content.
In 2023, the total revenue of Bilibili was 22.53 billion yuan (RMB, the same below), with a total revenue of 6.35 billion yuan in the fourth quarter, an increase of 3% compared to the same period last year; The net losses for the whole year and the fourth quarter were 4.81 billion yuan and 1.3 billion yuan, respectively, narrowing by 35% and 13% year-on-year; The adjusted net losses for the whole year and the fourth quarter were 3.4 billion yuan and 560 million yuan, respectively. The adjusted net losses narrowed by 49% and 58% year-on-year. In the fourth quarter, the net operating cash inflow was 640 million yuan, and a positive operating cash flow was achieved for the whole year.