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Bilibili (BILI) investor relations material

Bilibili Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary21 Aug, 2025

Executive summary

  • Achieved 20% year-over-year revenue growth to RMB7.34 billion in Q2 2025, driven by strong gains in advertising and mobile games.

  • Adjusted net profit reached RMB561 million, reversing prior year losses, while GAAP net profit was RMB218 million.

  • User engagement hit record highs: DAUs up 7% to 109 million, with average daily time spent per user at 105 minutes.

  • Major offline events like Bilibili World attracted over 400,000 participants, reinforcing brand influence and community engagement.

  • Continued expansion of the content creator ecosystem, with over 2 million creators earning income in H1 2025.

Financial highlights

  • Gross profit increased 46% year-over-year to RMB2.68 billion, with gross margin expanding to 36.5% from 29.9%.

  • Operating profit was RMB252 million, adjusted operating profit RMB573 million, both up from losses last year.

  • Value-added services revenue grew 11% year-over-year to RMB2.84 billion, supported by premium memberships and fan charging.

  • Advertising revenue rose 20% year-over-year to RMB2.45 billion, outpacing industry average.

  • Mobile games revenue surged 60% year-over-year to RMB1.61 billion, led by exclusive and jointly operated titles.

Outlook and guidance

  • Gross margin expected to reach 37% by Q4 2025, with a mid-term target of 40–45%.

  • Adjusted operating margin targeted at 10% by Q4 2025, with a mid-term goal of 15–20%.

  • Focus on leveraging Gen Z+ leadership, diversified content, and AI-driven monetization for sustainable growth.

  • Management aims to maintain efficient, sustainable, and profitable operations, focusing on user growth, engagement, and monetization.

  • Plans to continue delivering premium content and unlocking commercial potential of the ecosystem.

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Frequently asked questions

Bilibili Inc operates an online entertainment platform in China, offering a wide range of content including video sharing, mobile gaming, and live broadcasting. The company serves young audiences with content across various genres such as animation, comics, and games. Bilibili operates within the technology and media sectors, focusing on user-generated and professionally produced content. The company is headquartered in Shanghai, China, and its shares are listed on the NASDAQ.

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