SHANGHAI (AP) _ Bilibili Inc. (BILI) on Thursday reported a loss of $359.5 million in its first quarter.

The Shanghai-based company said it had a loss of 91 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 66 cents per share.

The Chinese video sharing website posted revenue of $796.2 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $771.7 million.

For the current quarter ending in July, Bilibili said it expects revenue in the range of $764 million to $779.8 million.

Bilibili shares have dropped 36% since the beginning of the year. The stock has fallen 72% in the last 12 months.

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