Chinese streaming giant Bilibili stock rises after earnings beat

Chinese streaming giant Bilibili Inc. BILI, +6.19% shares rose 2.7% in the extended session Wednesday after the company beat earnings expectations.

The company reported fourth-quarter net losses of $27.8 million, which amounts to 9 cents a share. Adjusted for stock-based compensation, among other things, earnings were 7 cents a share. Revenue rose 57% to $168.1 million. Analysts surveyed by FactSet expected losses of $32 million on revenue of $155.1 million. The company said it expects first-quarter revenue of RMB$1.27 billion ($189.9 million) to RMB$1.29 billion. Bilibili stock has gained 40% in the past nine months as the S&P 500 index SPX, -0.05% rose 2.6%.