Thursday, October 16, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Bilibili surges as Q3 tops expectations; Chinese tech rises on refined COVID-19 measures

by Euro Times
November 29, 2022
in Markets
Reading Time: 2 mins read
A A
0
Home Markets
Share on FacebookShare on Twitter


Toa55

Bilibili (NASDAQ:BILI) shares surged more than 23% after the video game company reported third-quarter results that topped estimates, leading a broader rally in Chinese tech stocks after the country announced some changes to its COVID-19 policies.

For the period ending September 30, Bilibili (BILI) said it lost an adjusted 63 cents per share on $814.5M in revenue, compared to expectations of a loss of 65 cents per share and $789.33M in revenue.

The company also said that its daily active users reached 90.3M in the quarter, up 25% year-over-year, while monthly active users also rose 25% to 332.6M.

Looking ahead, Bilibili (BILI) said it expects net revenues to be between RMB6B and RMB6.2B.

On Tuesday, Chinese officials said the country would boost its vaccination levels for its elderly citizens, as the country looks to deal with the Omicron variant and increasing unrest from its citizens as they deal with lockdowns in several cities.

According to the New York Times, 90% of China’s total population is fully vaccinated, but the number drops to 65.8% for those 80 and older, with just 40% of that group having received a booster.

Several cities, including Zhengzhou, where Foxconn’s main iPhone plant is based, as well as Shanghai and Beijing, have seen citizens protesting against the country’s “zero-Covid” strategy, which has disrupted the global supply chain and economy and resulted in some citizens calling for the resignation of Chinese Premier Xi Jinping.

Chinese officials are slated to speak at a press conference at 3 p.m. local time to discuss measures the country is taking to dealing with the pandemic.

Speculation about the yet-to-be announced measures spurred overnight gains in Chinese equities, with the moves continuing in New York trading. Alibaba (BABA), JD.com (JD), Tencent (OTCPK:TCEHY), Baidu (NASDAQ:BIDU) and several others rose sharply on Tuesday, led by an 8.6% move in JD.com.

Baidu (BIDU) rose nearly 6% after the company said it had plans to build the world’s largest autonomous ride-hailing service area in 2023.

The KraneShares CSI China Internet ETF (KWEB) climbed more than 6% in late morning trading.

Separately on Tuesday, Disney (DIS) said that its Shanghai Disneyland theme park would shut down again “temporarily” over new COVID-19 controls.

Earlier this month, Point 72 Asset Management, the hedge fund led by Steve Cohen, disclosed that it had increased its position in Alibaba (BABA) during the third-quarter, while making several other changes to its portfolio.



Source link

Tags: BilibiliChineseCOVID19expectationsmeasuresrefinedRisessurgestechtops
Previous Post

Consumer Expectations Remained at Recessionary Levels in November

Next Post

Canadian regulators to review sale of HSBC’s Canada business to RBC By Reuters

Related Posts

United Airlines (UAL) reports lower Q3 earnings, despite revenue growth

United Airlines (UAL) reports lower Q3 earnings, despite revenue growth

by Staff Correspondent
October 16, 2025
0

United Airways Holdings, Inc. (NYSE: UAL) reported blended outcomes for the third quarter of fiscal 2025 — revenues elevated YoY,...

STAAR Surgical holders should vote against sale to Alcon, ISS says (update) (STAA:NASDAQ)

STAAR Surgical holders should vote against sale to Alcon, ISS says (update) (STAA:NASDAQ)

by Joshua Fineman
October 15, 2025
0

designer491/iStock by way of Getty PhotosReplace 3:20pm: Provides additional particulars from ISS advice.STAAR Surgical (NASDAQ:STAA) holders ought to vote in...

What to look for when Hasbro (HAS) reports Q3 2025 earnings results

What to look for when Hasbro (HAS) reports Q3 2025 earnings results

by Staff Correspondent
October 14, 2025
0

Shares of Hasbro, Inc. (NASDAQ: HAS) have been up over 1% on Tuesday. The inventory has gained 31% year-to-date. The...

Citigroup earnings Q3 2025

Citigroup earnings Q3 2025

by Yun Li
October 15, 2025
0

Citi is seen on the ground of the New York Inventory Trade on March 3, 2025. NYSECitigroup posted stronger-than-expected third-quarter earnings...

Bessent tells the FT that struggling China wants ‘to pull everybody else down with them’

Bessent tells the FT that struggling China wants ‘to pull everybody else down with them’

by Jeff Cox
October 15, 2025
0

U.S. Treasury Secretary Scott Bessent speaks to the press, on the day of U.S.-China talks on commerce, financial and nationwide...

Goldman Sachs (GS) earnings Q3 2025

Goldman Sachs (GS) earnings Q3 2025

by Hugh Son
October 14, 2025
0

David Solomon, CEO Goldman Sachs, talking on CNBC's Squawk Field on April twenty second, 2025. CNBCGoldman Sachs is scheduled to...

Next Post
Canadian regulators to review sale of HSBC’s Canada business to RBC By Reuters

Canadian regulators to review sale of HSBC's Canada business to RBC By Reuters

The New ‘Norm’ Of Client Expectations Is Here to Stay for Good

The New 'Norm' Of Client Expectations Is Here to Stay for Good

Insurrection Act: What is it, and does US president have plenary authority? | Donald Trump News

Insurrection Act: What is it, and does US president have plenary authority? | Donald Trump News

October 16, 2025
FMCG giant to cut 16,000 jobs over two years — What company said

FMCG giant to cut 16,000 jobs over two years — What company said

October 16, 2025
Axis Bank, HDFC Life And L&T In Focus — Check Price Target

Axis Bank, HDFC Life And L&T In Focus — Check Price Target

October 16, 2025
Knifeman goes on horror rampage wielding two blades & stabbing one in Brit holiday hotspot before cops tasered him

Knifeman goes on horror rampage wielding two blades & stabbing one in Brit holiday hotspot before cops tasered him

October 16, 2025
CNN’s Shutdown ‘Town Hall’ Was Mostly An Infomercial for Socialism

CNN’s Shutdown ‘Town Hall’ Was Mostly An Infomercial for Socialism

October 16, 2025
Today’s NYT Connections: Sports Edition Hints, Answers for Oct. 16 #388

Today’s NYT Connections: Sports Edition Hints, Answers for Oct. 16 #388

October 16, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Insurrection Act: What is it, and does US president have plenary authority? | Donald Trump News

FMCG giant to cut 16,000 jobs over two years — What company said

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In