Why Bilibili Stock Was Sliding Today
Shares of Bilibili (NASDAQ: BILI) were pulling back today after the Chinese tech company missed the mark in its third-quarter earnings report. Bilibili, an online video and entertainment company, said that revenue in Q3 rose 61% to $808 million, which was slightly below estimates at $809.9 million. Mobile gaming revenue growth was sluggish at 9% to $216 million as the company has faced headwinds from a regulatory crackdown on video games.