Bilibili's Game Revenue Outlook Upgraded
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy BILI?
Source: seekingalpha
- Game Revenue Outlook: With three new games launching at the end of 2026 and into 2027, Bilibili (BILI) is expected to enter a new upcycle, with anticipated game revenue not yet factored into 2027 estimates, potentially leading to significant performance improvements.
- Rating Upgrade: Morgan Stanley upgraded Bilibili's rating from Equal Weight to Overweight and raised its price target by 24% to $31, reflecting a more attractive valuation supported by AI adoption tailwinds, especially after a 42% pullback since late January.
- Historical Performance: The last time Bilibili embarked on a new game cycle between Q4 2024 and Q2 2025, the company's revenue nearly doubled to RMB 1.7 billion, demonstrating the strong revenue-driving potential of new game releases.
- User Demographics and Advertising: As an online community for younger users, with an average age of 26-27, Bilibili captures rising purchasing power and increasingly diversified consumption demands, sustaining outperformance as a key advertising channel across sectors compared to the overall online marketing market.
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Analyst Views on BILI
Wall Street analysts forecast BILI stock price to rise
8 Analyst Rating
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 24.950
Low
27.00
Averages
30.25
High
34.00
Current: 24.950
Low
27.00
Averages
30.25
High
34.00
About BILI
Bilibili Inc is an investment holding company primarily engaged in providing online entertainment services. Content business categories include anime content, pan entertainment and pan knowledge content. Community business provides a community interaction platform. Value-added services mainly include live streaming and paid membership services. Advertising business is mainly engaged in advertising business, covering household appliances, e-commerce, Internet services, automobiles and other industries. Mobile gaming business mainly engages in mobile game development, including San Guo: Mou Ding Tian Xia, Fate Grand Order, Azure Lane, and others. The Company also engages in commercial services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bilibili's Game Revenue Outlook Upgraded
- Game Revenue Outlook: With three new games launching at the end of 2026 and into 2027, Bilibili (BILI) is expected to enter a new upcycle, with anticipated game revenue not yet factored into 2027 estimates, potentially leading to significant performance improvements.
- Rating Upgrade: Morgan Stanley upgraded Bilibili's rating from Equal Weight to Overweight and raised its price target by 24% to $31, reflecting a more attractive valuation supported by AI adoption tailwinds, especially after a 42% pullback since late January.
- Historical Performance: The last time Bilibili embarked on a new game cycle between Q4 2024 and Q2 2025, the company's revenue nearly doubled to RMB 1.7 billion, demonstrating the strong revenue-driving potential of new game releases.
- User Demographics and Advertising: As an online community for younger users, with an average age of 26-27, Bilibili captures rising purchasing power and increasingly diversified consumption demands, sustaining outperformance as a key advertising channel across sectors compared to the overall online marketing market.
See More
Bilibili Releases 2025 ESG Report Highlighting Sustainable Practices
- Sustainability Commitment: Bilibili's 2025 ESG report highlights the company's achievements in advancing responsible business practices and sustainable growth, demonstrating its commitment to creating meaningful value for users, content creators, and the broader community.
- Environmental Advocacy: The company encourages the public to access the electronic version of the ESG report on its investor relations website and the HKEX website, reflecting its proactive stance on environmental protection and aiming to raise public awareness of sustainability.
- Community Building: Bilibili focuses on building a community around the younger generation by offering diverse video content, strengthening emotional connections between users and content creators, thereby enhancing user engagement and platform activity.
- Cultural Ambassador: As an iconic brand for China's youth, Bilibili not only promotes domestic cultural dissemination but also showcases the diversity of Chinese culture globally, further solidifying its leadership position in the video community.
See More
Bilibili Files Annual Report for 2025
- Annual Report Filing: Bilibili submitted its annual report for the fiscal year ending December 31, 2025, to the SEC on April 16, 2026, reflecting the company's ongoing commitment to transparency and compliance, which enhances investor confidence.
- Report Access: The annual report is available in electronic format on the company's investor relations website and the SEC's site, while hard copies are provided free of charge to shareholders and ADS holders, improving shareholder service quality.
- Community Mission: Bilibili aims to enrich the everyday lives of young generations in China by offering a diverse array of video content and promoting the value proposition of
See More
Morgan Stanley Upgrades Bilibili Outlook Amid Game Releases and AI Growth
- Game Release Outlook: Morgan Stanley upgraded Bilibili's rating from equal weight to overweight and raised its price target from $25 to $31, indicating a 30.5% upside, reflecting confidence in the company's future game releases.
- New Game Pipeline: Analysts expect three new games to launch in the second half of 2026, with 'Romance of the Three Kingdoms: Wangdaotianxia' anticipated to be the major contributor, suggesting the market has not fully recognized the company's gaming potential.
- AI-Driven Efficiency: Bilibili has reduced programming costs through AI-assisted 'vibe coding,' while creators have leveraged this technology to enhance content production efficiency, further driving user growth and engagement on the platform.
- Market Consensus Support: Among the 31 analysts covering Bilibili, 29 have rated the stock as buy or strong buy, indicating widespread optimism in the market, despite the stock's approximately 3% decline year-to-date.
See More
Latest Wall Street Ratings Overview
- Tesla Rating Maintained: Wells Fargo reiterates its underweight rating on Tesla ahead of earnings, indicating a cautious outlook due to limited progress on Robotaxi and Optimus, suggesting a strategic pivot towards Semi and Roadster could be necessary for future growth.
- Starbucks Rating Upgrade: Jefferies upgrades Starbucks from sell to hold, citing stabilization in the U.S. market, and while the stock trades at a high premium, the expectation of more realistic earnings estimates reflects a more optimistic view on the company's future performance.
- Nokia Transformation: Bank of America upgrades Nokia from neutral to buy, highlighting its transition into an optical powerhouse, which positions the company favorably in the telecom equipment market and suggests significant growth potential ahead.
- Chime Financial Rating Initiated: Wells Fargo initiates coverage on Chime Financial with an overweight rating, recognizing its strong growth and profitability in the digital banking sector, and anticipates a positive impact from the upcoming tax season.
See More
J.P. Morgan Upgrades Bilibili to Overweight Rating
- Ad Revenue Growth Outlook: J.P. Morgan anticipates that Bilibili will achieve over 25% ad revenue growth in upcoming quarters, driven by traffic increases, higher cost-per-mile ads, and a further rise in ad load, thereby enhancing the company's competitive position in the market.
- AI Investment Strategy: The firm believes that Bilibili's strategy to invest in artificial intelligence is sound, expecting it to become a major driver of user engagement and advertising revenue, akin to the successes seen with platforms like Meta and TikTok.
- Profitability Enhancement: Despite AI investments, J.P. Morgan highlights that Bilibili's strong operating leverage will enable solid profit growth in 2026, with a modest increase in operating expenses coupled with sustained ad revenue growth ensuring the company's profitability.
- Game Revenue Recovery: The firm noted that the upcoming releases of the theme card game Ncard and the monster-catching game Lumi Master are expected to drive game revenue back to positive year-over-year growth, further strengthening the company's overall financial performance.
See More
Bilibili's Game Revenue Outlook Upgraded
- Game Revenue Outlook: With three new games launching at the end of 2026 and into 2027, Bilibili (BILI) is expected to enter a new upcycle, with anticipated game revenue not yet factored into 2027 estimates, potentially leading to significant performance improvements.
- Rating Upgrade: Morgan Stanley upgraded Bilibili's rating from Equal Weight to Overweight and raised its price target by 24% to $31, reflecting a more attractive valuation supported by AI adoption tailwinds, especially after a 42% pullback since late January.
- Historical Performance: The last time Bilibili embarked on a new game cycle between Q4 2024 and Q2 2025, the company's revenue nearly doubled to RMB 1.7 billion, demonstrating the strong revenue-driving potential of new game releases.
- User Demographics and Advertising: As an online community for younger users, with an average age of 26-27, Bilibili captures rising purchasing power and increasingly diversified consumption demands, sustaining outperformance as a key advertising channel across sectors compared to the overall online marketing market.
See More
Bilibili Releases 2025 ESG Report Highlighting Sustainable Practices
- Sustainability Commitment: Bilibili's 2025 ESG report highlights the company's achievements in advancing responsible business practices and sustainable growth, demonstrating its commitment to creating meaningful value for users, content creators, and the broader community.
- Environmental Advocacy: The company encourages the public to access the electronic version of the ESG report on its investor relations website and the HKEX website, reflecting its proactive stance on environmental protection and aiming to raise public awareness of sustainability.
- Community Building: Bilibili focuses on building a community around the younger generation by offering diverse video content, strengthening emotional connections between users and content creators, thereby enhancing user engagement and platform activity.
- Cultural Ambassador: As an iconic brand for China's youth, Bilibili not only promotes domestic cultural dissemination but also showcases the diversity of Chinese culture globally, further solidifying its leadership position in the video community.
See More
Bilibili Files Annual Report for 2025
- Annual Report Filing: Bilibili submitted its annual report for the fiscal year ending December 31, 2025, to the SEC on April 16, 2026, reflecting the company's ongoing commitment to transparency and compliance, which enhances investor confidence.
- Report Access: The annual report is available in electronic format on the company's investor relations website and the SEC's site, while hard copies are provided free of charge to shareholders and ADS holders, improving shareholder service quality.
- Community Mission: Bilibili aims to enrich the everyday lives of young generations in China by offering a diverse array of video content and promoting the value proposition of
See More
Morgan Stanley Upgrades Bilibili Outlook Amid Game Releases and AI Growth
- Game Release Outlook: Morgan Stanley upgraded Bilibili's rating from equal weight to overweight and raised its price target from $25 to $31, indicating a 30.5% upside, reflecting confidence in the company's future game releases.
- New Game Pipeline: Analysts expect three new games to launch in the second half of 2026, with 'Romance of the Three Kingdoms: Wangdaotianxia' anticipated to be the major contributor, suggesting the market has not fully recognized the company's gaming potential.
- AI-Driven Efficiency: Bilibili has reduced programming costs through AI-assisted 'vibe coding,' while creators have leveraged this technology to enhance content production efficiency, further driving user growth and engagement on the platform.
- Market Consensus Support: Among the 31 analysts covering Bilibili, 29 have rated the stock as buy or strong buy, indicating widespread optimism in the market, despite the stock's approximately 3% decline year-to-date.
See More
Latest Wall Street Ratings Overview
- Tesla Rating Maintained: Wells Fargo reiterates its underweight rating on Tesla ahead of earnings, indicating a cautious outlook due to limited progress on Robotaxi and Optimus, suggesting a strategic pivot towards Semi and Roadster could be necessary for future growth.
- Starbucks Rating Upgrade: Jefferies upgrades Starbucks from sell to hold, citing stabilization in the U.S. market, and while the stock trades at a high premium, the expectation of more realistic earnings estimates reflects a more optimistic view on the company's future performance.
- Nokia Transformation: Bank of America upgrades Nokia from neutral to buy, highlighting its transition into an optical powerhouse, which positions the company favorably in the telecom equipment market and suggests significant growth potential ahead.
- Chime Financial Rating Initiated: Wells Fargo initiates coverage on Chime Financial with an overweight rating, recognizing its strong growth and profitability in the digital banking sector, and anticipates a positive impact from the upcoming tax season.
See More
J.P. Morgan Upgrades Bilibili to Overweight Rating
- Ad Revenue Growth Outlook: J.P. Morgan anticipates that Bilibili will achieve over 25% ad revenue growth in upcoming quarters, driven by traffic increases, higher cost-per-mile ads, and a further rise in ad load, thereby enhancing the company's competitive position in the market.
- AI Investment Strategy: The firm believes that Bilibili's strategy to invest in artificial intelligence is sound, expecting it to become a major driver of user engagement and advertising revenue, akin to the successes seen with platforms like Meta and TikTok.
- Profitability Enhancement: Despite AI investments, J.P. Morgan highlights that Bilibili's strong operating leverage will enable solid profit growth in 2026, with a modest increase in operating expenses coupled with sustained ad revenue growth ensuring the company's profitability.
- Game Revenue Recovery: The firm noted that the upcoming releases of the theme card game Ncard and the monster-catching game Lumi Master are expected to drive game revenue back to positive year-over-year growth, further strengthening the company's overall financial performance.
See More
