0427 GMT - Bilibili's 1Q profit is likely to be temporarily hit by a major marketing event, say Nomura analysts Jialong Shi and Rachel Guo in a research note. The Chinese social media will spend CNY100 million to sponsor the Spring Festival Gala held by China Central Television, they point out. As a result, Nomura expects Bilibili's adjusted operating profit to reach CNY258 million in 1Q, compared with the consensus estimate of CNY302 million. Revenue is likely to grow 19% year-on-year during the period, they add. The analysts maintain a buy rating, and cut target price of its ADR to $20.00 from $24.00. The ADR last traded at $16.43. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 23:27 ET (04:27 GMT)
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