里昂发表研究报告，在游戏和广告业务强劲增长支持下，料哔哩哔哩-W(09626.HK) (BILI.US) 上季业绩稳固，总收入料按年增21%至77亿元人民币(下同)，经调整EBIT料达3.62亿元。季度游戏收入因为《三国：谋定天下》及《咒术回战幻影夜行》受捧，料按年增80%。公司同时也进一步在游戏、电商平台及消费必需品等方面扩大广告市占率，相信此增长走势可延续至今年上半年，而下半年的增长则视乎其下一个主打游戏。该行维持公司“跑赢大市”评级及美股目标价25美元。
该行也提到，公司的广告业务应维持稳固增长，上季收入或因2023年的高基数下，增幅料放缓至按年升24%，但受惠于基建改善、用户流量增加以及广告载荷率增加，而维持强劲增长。至于增值服务收入，该行料按年温和增长5%至30亿元，主要受到直播低双位数的增长，以及会员单位数的增长的支持。(vc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-12 12:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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