Shares of Chinese video streaming company Bilibili slumped 8% during Nasdaq trading on Thursday following the firm’s mixed report for the fourth quarter of last year. The company’s Hong Kong shares tumbled more than 10% in early Friday trading. Bilibili posted $0.66 net loss per share on $907 million revenue, compared with analysts’ predictions of $0.68 net loss on $913 million revenue. The company said it expects net revenue to be between $839 million and $870 million for the first quarter of 2022, below the market forecast of $898 million. Bilibili also said it would buy back up to $500 million in company stock over the next two years, with chairman and CEO Chen Rui planning to use his own money to buy $10 million in shares during the same period. Investment bank Jefferies interprets the share repurchase program as a sign of confidence in Bilibili’s long-term outlook. [Bilibili press release]