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Sep 30, 2025
Bilibili Q3 2025 Earnings Report
Bilibili returned to profitability in Q3 2025 with strong growth in advertising and improved margins.
Key Takeaways
Bilibili posted net income of $65.9M and revenue of $1.08B for Q3 2025, marking a return to profitability supported by advertising strength and cost discipline.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is focused on maintaining user engagement and monetization efficiency, with no specific quantitative guidance issued.
Positive Outlook
- DAUs reached an all-time high of 117.3 million.
- Gross margin expanded to 36.7%, marking 13 consecutive quarters of growth.
- Adjusted net profit increased by 233% YoY.
- Advertising revenue grew 23% YoY, reaching $361M.
- Record average daily user engagement at 112 minutes.
Challenges Ahead
- Mobile games revenue declined 17% YoY.
- Operating expenses remain high despite cost controls.
- No guidance provided for Q4 or FY.
- Heavy reliance on advertising growth to sustain momentum.
- Free cash flow not disclosed separately.
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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