《大行》招商证券：哔哩哔哩(BILI.US)持续减亏趋势不变

阿斯达克财经04-19

招商证券发表研究报告指，预计哔哩哔哩(BILI.US) (09626.HK) 第一季收入将按年增长10%。经调整经营利润率为-10.4%，亏损幅度与第四季相似，主要是由于第一季为淡季，营运杠杆释放不明显，但按年来看，亏损率仍有显著改善。该行预计集团今年将稳步迈向盈利，同时将进一步带动基础设施成本效率提升并带来收入规模增长的机会。由于持续减亏趋势不变，公司在费用开支方面较为审慎，因此该行预期DAU...

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