Bilibili, Inc. Class Z (HK:9626)
:9626
Earnings Data
Report Date
May 27, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.32Last Year’s EPS
0.92Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong positive momentum across community engagement, advertising monetization and profitability milestones — notably the first full-year GAAP profit, consecutive margin expansion and robust ad growth — while acknowledging near-term headwinds in quarter-specific game revenue and measured VAS growth. Management emphasized continued AI investment and long-life operation for games, indicating confidence in sustainable growth. Overall, positive operational and financial progress outweighed the limited headwinds.Company Guidance
First Full-Year GAAP Profitability
Reported GAAP net profit of RMB 1.2 billion for FY2025 — the company's first full year of GAAP profitability, marking a major milestone in financial performance.
Revenue Growth — FY and Q4
Total revenues for FY2025 were RMB 30.3 billion, up 13% year-over-year. Fourth quarter revenues were RMB 8.3 billion, up 8% year-over-year.
Margin Expansion and Operating Leverage
Gross profit grew 11% in Q4 and gross margin expanded to 37.0% (from 36.1% YoY), representing the 14th consecutive quarter of margin expansion. Q4 operating profit was RMB 504 million (up 299% YoY) and adjusted operating profit was RMB 838 million with an adjusted operating margin of 10.1% (from 6.0% a year ago). Adjusted net profit for Q4 was RMB 878 million and adjusted net profit margin expanded to 10.6%.
User and Engagement Momentum
DAU growth accelerated sequentially across 2025: Q1 +4%, Q2 +7%, Q3 +9%, Q4 +10%, reaching 113 million DAUs. Q4 MAUs grew 8% YoY to 366 million. Average daily time spent rose 8% YoY to 107 minutes, and watch time for videos longer than 5 minutes grew >20% YoY.
Monetization — Paying Users and Creator Income
MPUs (paying users) increased 21% YoY to a record 36 million. Nearly 3 million creators earned income on the platform in 2025 and average income per creator rose 21% YoY. Premium memberships reached 25.3 million, up 12% YoY; fan-charging users exceeded 10 million and fan charging revenues doubled for the full year.
Advertising Strength and Momentum
Advertising revenue in Q4 was RMB 3.0 billion, up 27% YoY; full-year advertising revenues rose 23% to RMB 10.1 billion. Notable drivers: home decoration ad spend +80% YoY, AI-related ad budgets nearly +180% YoY in Q4. New inventory and multiscreen scenarios (search/PC/OTT) grew ad revenue >60% YoY.
Cash Generation and Share Buybacks
Generated RMB 1.8 billion operating cash flow in Q4 and RMB 7.1 billion for the full year. Cash, equivalents, time deposits and short-term investments totaled RMB 24.2 billion (≈USD 3.5 billion). Board-approved USD 200 million repurchase program: 7.0 million shares repurchased for USD 131.2 million, with ~USD 68.8 million remaining.
Game Business — Full-Year Growth and Breakout Title
Full-year game revenues grew 14% to RMB 6.4 billion. Breakout self-developed title Escape from Duckov sold over 3 million copies in the first 3 weeks, became the best-selling domestic single-player game of the year and is being expanded to consoles and mobile.
HK:9626 Earnings History
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
HK:9626 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 05, 2026 | HK$208.20 | HK$210.60 | +1.15% |
Nov 13, 2025 | HK$213.40 | HK$212.80 | -0.28% |
Aug 21, 2025 | HK$199.10 | HK$196.80 | -1.16% |
May 20, 2025 | HK$143.00 | HK$140.20 | -1.96% |
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.
FAQ
When does Bilibili, Inc. Class Z (HK:9626) report earnings?
Bilibili, Inc. Class Z (HK:9626) is schdueled to report earning on May 27, 2026, After Close (Confirmed).
What is Bilibili, Inc. Class Z (HK:9626) earnings time?
Bilibili, Inc. Class Z (HK:9626) earnings time is at May 27, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
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What is the P/E ratio of Bilibili, Inc. Class Z stock?
The P/E ratio of Bilibili, Inc. Class Z is N/A.
What is HK:9626 EPS forecast?
HK:9626 EPS forecast for the fiscal quarter 2026 (Q1) is 1.32.