In a stunning third quarter for 2025, Bilibili Inc., the influential video community brand catering to China’s younger generations, has reported a slew of impressive financial and operational metrics, revealing both exceptional revenue performance and heightened user engagement. This advancement aligns with the company's strategic vision to foster a dynamic community platform that drives long-term value.
Bilibili Inc Earnings
Bilibili's third-quarter financial results surpassed expectations, registering significant growth across various financial metrics. The company recorded a total net revenue of RMB7.69 billion (USD 1.08 billion) for the quarter, equating to a 5% year-over-year increase. Notably, net profit skyrocketed to RMB469.4 million (USD 65.9 million) from a net loss in the same quarter of 2024, signaling a positive turnaround.
Bilibili Inc Results
The following table breaks down Bilibili’s key financial metrics, offering a comparison both on a year-over-year basis and against last quarter's performance where available:
| Metric | Q3 2025 | YoY Change |
|---|---|---|
| Total Revenue (RMB/USD) | 7.69 billion/1.08 billion | +5% |
| Advertising Revenue (RMB/USD) | 2.57 billion/361.0 million | +23% |
| Gross Profit (RMB/USD) | 2.82 billion/395.8 million | +11% |
| Net Profit (RMB/USD) | 469.4 million/65.9 million | Turnaround from loss |
| Adjusted Net Profit (RMB/USD) | 786.3 million/110.5 million | +233% |
| Gross Profit Margin | 36.7% | Improved from 34.9% |
| Adjusted EPS (RMB/USD) | 1.89/0.27 | Improvement over -0.57 |
Revenue Breakdown
Below is an insightful segmentation of Bilibili's revenue performance by major segments, revealing both growth trajectories and areas of concern:
| Revenue Segment | Q3 2025 Revenue (RMB/USD) | YoY Change |
|---|---|---|
| Value-Added Services | 3.02 billion/424.6 million | +7% |
| Advertising Revenue | 2.57 billion/361.0 million | +23% |
| Mobile Games | 1.51 billion/212.2 million | -17% |
| IP Derivatives and Others | 582.3 million/81.8 million | +3% |
Analysis of Segment Performance
Advertising showed the most substantial growth, with a 23% year-over-year increase. This uplift was primarily driven by an enhanced suite of advertising products and more efficient advertising strategies. Meanwhile, the value-added services segment posted a 7% increase, buoyed by intensifying demand for premium memberships and related services.
Conversely, mobile games revenue experienced a 17% decline, attributed largely to the tough comparison with the previous year due to the successful launch of Bilibili's exclusively licensed game, "San Guo: Mou Ding Tian Xia", setting a high bar. NULLtheless, the performance in IP derivatives and other avenues showed modest growth, registering a 3% improvement over the prior year.
Key Developments
During the third quarter, Bilibili accomplished notable operational milestones, highlighted by a strategic emphasis on enhancing user engagement and community growth. The platform saw average daily active users (DAUs) climb to 117.3 million, a 9% rise year-over-year, while monthly active users (MAUs) also expanded by 8% to 376 million. There was a significant 17% increase in monthly paying users, reaching 35 million. In addition to these user engagement strides, the average daily time spent per user reached a new pinnacle of 112 minutes, underscoring the higher levels of content engagement.
Comments from Company Officers
Mr. Rui Chen, Chairman and CEO of Bilibili, issued an optimistic statement: "We maintained strong momentum in the third quarter, led by remarkable community growth and continual financial progress. Our engagement increasingly translates into commercial value as a result of our long-term commitment to high-quality content and distinctive community experiences. This reinforces our ability to sustain a profitable ecosystem that drives business growth and creates enduring value for our stakeholders."
Mr. Sam Fan, Chief Financial Officer, elaborated: "The consistent year-over-year growth in our total revenues and advertising revenues underscores our improved monetization frameworks and operational efficiency. Our focus on superior cost-management strategies has propelled our non-GAAP net profit by an astonishing 233%, setting a robust platform for further investments in innovation and market expansion."
Dividends and Share Repurchases
Bilibili has actively participated in a share repurchase program authorized by its Board of Directors. As part of the program, the company has reacquired a total of 6.4 million of its listed securities for USD 116.4 million. This initiative reflects Bilibili’s commitment to optimizing shareholder value.
Bilibili Inc Stock Forecast
Looking ahead, Bilibili's stock outlook appears promising. With a current market capitalization of USD 6.6 billion, industry analysts project the stock's potential price range by next quarter using its solid Q3 2025 financial performance as a basis. In a favorable scenario where Bilibili sustains its current trajectory, the stock could see a high of USD 22. However, under less favorable market conditions or potential regulatory challenges, the stock might see a low of USD 17.
Bilibili's impressive growth in advertising revenue coupled with high user engagement levels renders it an exciting prospect. Investors should keenly watch how the company leverages its healthy financial position to innovate and explore diverse market opportunities. With such a solid quarter, Bilibili reinforces its strategic presence as a key player within China’s vibrant digital landscape, drawing investor confidence through its consistent earnings elevation and profound growth potential.
