美股異動丨嗶哩嗶哩盤前漲超1% Q1業績超預期 獲多家機構看好
嗶哩嗶哩(BILI.US)盤前漲1.76%,報18.47美元。公司昨晚公佈財報顯示,2025年第一季度營收同比升24%至70億元(人民幣,下同);經調整淨利潤錄得3.6億元,同比扭虧爲盈;均超市場預期。一季度毛利率創下新高,提高8個百分點至36.3%,也是連續11個季度逐步提升。績後大和發報告指,嗶哩嗶哩第一季度調整後利潤入比市場預期高出30%,主要因營運支出低於預期,這也是連續第三個季度實現正收益。毛利率擴展至36.3%,按年增長8個百分點,反映出收入組合向高利潤率板塊(廣告和遊戲)的有利轉移。基於嗶哩嗶哩長期盈利能力進展的清晰前景,大和將其2025至2026年每股盈利預測上調9%至14%。招銀國際亦指,展望2Q25,預計嗶哩嗶哩將維持20%的同比營收增長,且利潤率進一步改善,主要受廣告和手遊業務的強勁增長帶動。該行將FY25-27非GAAP淨利潤預測上調至22/32/41億元(前值:18/27/37億元),反映公司利潤率持續改善的趨勢。該行微調基於SOTP的目標價至26.5美元(前值:26.4美元),維持“買入”評級。(格隆匯)

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