Bilibili Inc. (NASDAQ:BILI) Q2 2024 Earnings Call Transcript August 22, 2024 8:00 AM ET

Company Participants

Juliet Yang - Executive Director of IR
Sam Fan - CFO
Rui Chen - Chairman and CEO

Conference Call Participants

Daniel Chen - JPMorgan
Felix Liu - UBS
Thomas Chong - Jefferies
Xueqing Zhang - CICC
Yiwen Zhang - China Renaissance

Operator

Good day, and welcome to Bilibili Second Quarter 2024 Financial Results and Business Update Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Juliet Yang, Executive Director of Investor Relations. Please go ahead.

Juliet Yang

Thank you, operator. During this call, we'll discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially from those mentioned in today's news release and in this discussion due to a number of risks and uncertainties, including those mentioned in our most recent filing with the SEC and Hong Kong Stock Exchange. The non-GAAP financial measures we provide are for comparison purposes only. The definition of these measures and a reconciliation table are available in the news release we issued earlier today. As a reminder, this conference is being recorded. In addition, an investor presentation and a webcast replay of this conference call will be available on the Bilibili IR website at ir.bilibili.com.

Joining us today from Bilibili senior management are Mr. Rui Chen, Chairman of the Board and Chief Executive Officer; Ms. Carly Li, Vice Chairwoman of the Board and Chief Operating Officer; and Mr. Sam Fan, Chief Financial Officer.

I will now turn the call over to Mr. Fan, who will read the prepared remarks on behalf of Mr. Chen.

Sam Fan

Thank you, Juliet, and thank you, everyone, for participating in our second quarter 2024 conference call to discuss our financial and operating results. I'm pleased to deliver today's opening remarks on behalf of Mr. Chen.

We delivered solid second-quarter results with accelerated topline growth, improved margins and healthy community development. In the second quarter, our total revenues increased by 16% year over year to RMB 6.13 billion. Our advertising business led this growth, with ad revenue growing by 30% year over year. Revenues from our Games and Value-added services also increased by 13% and 11% year over year, respectively. The momentum across our business lines is a strong testament to our execution in increasing our commercialization efficiency and unlocking the value of our community.