Chinese video platform Bilibili’s shares rose more than 10% in US pre-market trading on Tuesday after it reported better-than-expected earnings for the third quarter of 2022. The dual-listed company, trading on both the Nasdaq and Hong Kong stock exchanges, saw its revenue increase 11% to RMB 5.8 billion ($814.5 million), while net loss narrowed by 36% to RMB 1.7 billion from the same period in 2021, mainly due to the strict cutting of sales and marketing expenses — down 25% from last year. The firm also saw an increase in monthly active users and monthly paying users, with a yearly growth of 25% and 19%, respectively. Although Bilibili’s core business — mobile games and value-added services revenue — continues to grow, the growth rate is slower than before. Chairman and CEO of Bilibili Chen Rui stated on the earnings call that he will put more emphasis on gaming as the firm’s main business going forward, having taken charge of the gaming business himself earlier this month. Meanwhile, Carly Li, vice chairwoman and COO of Bilibili, said that its advertising sales on this year’s Singles Day festival showed strong growth despite “the weakened macro environment,” up 47% year-on-year. She also mentioned that the company will further explore live e-commerce. [Bilibili]