Hong Kong · Delayed Price · Currency is HKD Bilibili Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw robust revenue and profit growth, driven by strong user engagement, AI-powered content and ad efficiency, and expanding commercial momentum. Advertising revenue surged 30% year-over-year, while adjusted net profit rose 62%.
Fiscal Year 2025
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Achieved first full year of GAAP profitability in 2025, with revenues up 13% YoY and strong user growth. Q4 saw record engagement, margin expansion, and robust ad revenue, driven by AI integration and high-quality content. Confident outlook for 2026 with continued investment in AI.
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Q3 2025 saw record user engagement, 5% revenue growth, and significant margin expansion, driven by high-quality content, robust advertising, and new game successes. AI-powered tools and a strong cash position support continued profitability and innovation.
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Revenue grew 20% year over year to RMB 7.3 billion, with strong gains in games and advertising. Gross margin expanded to 36.5%, and net profit turned positive. User engagement and monetization reached new highs, supported by AI-driven initiatives and record-setting offline events.
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Q1 2025 delivered 24% revenue growth, record user engagement, and a sharp margin expansion, with strong gains in advertising and gaming. Adjusted net profit reached RMB 362 million, and the company remains confident in further margin and revenue growth for the year.
Fiscal Year 2024
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Achieved first GAAP net profit in Q4 2024, with revenues up 22% YoY and strong growth in advertising, gaming, and VAS. Gross margin reached 36.1%, and user engagement hit record highs. 2025 will focus on margin expansion, profitability, and leveraging AI for growth.
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Achieved first quarterly adjusted net profit with 26% revenue growth and record user engagement. Games and advertising led segment gains, with strong cash flow and a $200M share repurchase announced. Outlook remains positive for continued margin and revenue growth.
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Q2 2024 saw 16% revenue growth, margin expansion to 29.9%, and narrowed losses, driven by strong advertising (+30%) and games (+13%). User engagement and creator income surged, with confidence in Q3 break-even and ongoing profitability.