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Jun 30, 2025
Bilibili Q2 2025 Earnings Report
Bilibili returned to profitability in Q2 2025, driven by strong performance in advertising and mobile games.
Key Takeaways
Bilibili posted a net income of $30.5M in Q2 2025 as revenue surged 20% year-over-year to $1.02B. Significant improvements in gross margin and operational efficiency contributed to strong bottom-line results, with notable gains in advertising and mobile games.
Revenue grew 20% YoY to $1.02B
Net income reached $30.5M, reversing a $608M loss in Q2 2024
Gross margin expanded to 36.5%, up from 29.9%
Mobile games revenue jumped 60% YoY to $225.1M
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Bilibili expects continued momentum in its core business drivers with a focus on sustainable profitability, enhanced monetization, and user engagement.
Positive Outlook
- Advertising and gaming segments continue strong growth
- Community engagement remains robust with rising DAUs
- Offline events drew 400,000+ attendees, reinforcing brand strength
- Improved monetization efficiency with stable cost structure
- Cash position remains strong with $3.1B in reserves
Challenges Ahead
- Decline in IP derivatives revenue YoY
- Higher revenue sharing costs impact margins
- Rising competition in China’s online video and gaming space
- Market conditions remain volatile for performance-based ads
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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