The earnings call reflected a strong performance with significant revenue growth, improved profitability, and increased user engagement. Bilibili's advertising and game segments showed robust growth, and the company successfully narrowed its GAAP net loss. However, increased sales and marketing expenses posed a challenge.

Company Guidance -

Q2 2025

During the Bilibili First Quarter 2025 Financial Results and Business Update Conference Call, the company provided robust guidance, highlighting a 24% year-over-year increase in total revenues, reaching RMB7 billion. Advertising revenues rose by 20% to RMB2 billion, and game revenues surged 76% to RMB1.73 billion. The gross profit margin expanded to 36.3%, up from 28.3% the previous year. Daily active users (DAUs) reached 107 million, with monthly active users (MAUs) at 368 million, and users spent an average of 108 minutes on the platform daily. Monthly paying users hit a record 32 million, and the fan-charging program's revenue grew by over 200%. The company also reported a positive adjusted net profit of RMB362 million and reduced its GAAP net loss by 99% to RMB11 million. Additionally, Bilibili's advertising business saw a 20% revenue increase, supported by a 35% rise in the number of advertisers. The company anticipates sustained growth, leveraging its strong Gen Z+ user base, enhanced content quality, and AI-driven advertising innovations.

Strong Revenue Growth

Total revenues increased by 24% year-over-year to RMB7 billion, driven by strong performances in advertising and game businesses.

Significant Increase in Gross Profit

Gross profit increased by 58% year-over-year, with a gross profit margin expanding to 36.3% from 28.3% in the previous year.

Game Revenue Surge

Game revenues rose 76% year-over-year to RMB1.73 billion, with strong performance from the SLG title San Mou.

Positive Adjusted Net Profit

Maintained a positive adjusted net profit of RMB362 million and narrowed GAAP net loss by 99% year-over-year.

Increased User Engagement

Daily Active Users (DAUs) reached 107 million, and Monthly Active Users (MAUs) climbed to 368 million, with average daily time spent reaching a record 108 minutes.

Advertising Revenue Growth

Advertising revenues increased by 20% year-over-year to RMB2 billion, with performance-based advertising growing by over 30%.

Bilibili (BILI) Earnings, Revenues Date & History

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BILI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 21, 2025	2025 (Q2)	0.16 / -	-0.091	―	―	―
May 20, 2025	2025 (Q1)	0.07 / 0.12	-0.148	180.19% (+0.27)
Mar 25, 2025	2024 (Q4)	0.13 / 0.15	-0.187	179.85% (+0.34)
Nov 14, 2024	2024 (Q3)	0.08 / 0.08	-0.295	126.89% (+0.37)
Aug 22, 2024	2024 (Q2)	-0.10 / -0.09	-0.324	72.10% (+0.23)
May 23, 2024	2024 (Q1)	-0.17 / -0.15	-0.35	57.77% (+0.20)
Mar 07, 2024	2023 (Q4)	-0.21 / -0.19	-0.461	59.52% (+0.27)
Nov 29, 2023	2023 (Q3)	-0.26 / -0.30	-0.621	52.47% (+0.33)
Aug 17, 2023	2023 (Q2)	-0.35 / -0.32	-0.693	53.21% (+0.37)
Jun 01, 2023	2023 (Q1)	-0.39 / -0.35	-0.585	40.24% (+0.24)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BILI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 20, 2025	$17.99	$18.15	+0.89%
Mar 25, 2025	$19.87	$19.31	-2.82%
Nov 14, 2024	$21.27	$18.59	-12.60%
Aug 22, 2024	$14.02	$12.96	-7.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.