Bilibili Inc. BILI reported fiscal second-quarter results that topped earnings expectations and highlighted solid growth across core revenue streams.
Revenue rose 20% year-over-year to $1.02 billion (7.34 billion yuan), in line with analyst forecasts. Adjusted earnings per ADS came in at 19 cents, more than double the consensus estimate of 8 cents.
The Chinese video-sharing platform also saw continued momentum in user engagement. Average daily active users climbed 7% to 109.4 million during the quarter.
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For the first half of 2025, DAUs averaged 108 million, while monthly active users reached 365.2 million, representing year-over-year gains of 6% and 8%, respectively.
Time spent per user also rose, with average daily usage reaching 106 minutes in the first half, up from 102 minutes a year earlier. Monthly paying users grew 10% to 31.8 million.
By segment, mobile gaming revenue surged 60% to $225.1 million, while value-added services climbed 11% to $396 million. Advertising revenue advanced 20% to $341.9 million. Revenue from IP derivatives and other businesses declined 15% to $61.4 million.
Profitability also improved. Gross margin expanded to 36.5%, up from 29.9% a year earlier. Adjusted net income reached $78.4 million (561.3 million yuan), compared with an adjusted net loss of 271 million yuan in the prior year. Operating cash flow stood at $277.7 million for the quarter.
As of June 30, 2025, Bilibili held $3.11 billion in cash and equivalents.
Bilibili Chairman and CEO Rui Chen highlighted that daily active users grew by 7%, monthly active users rose by 8%, and monthly paying users increased by 9% Y/Y. Users also spent an average of 105 minutes daily, six minutes more than last year. He said the company will focus on premium content that resonates with younger users.
“Looking ahead, we will stay focused on delivering premium content experiences that resonate with young audiences, fueling user growth and deepening engagement, while continuing to unlock the full commercial potential of our vibrant ecosystem,” he said.
Bilibili stock gained 40% year-to-date.
Price Action: BILI stock is trading lower by 1.64% to $24.89 premarket at last check Thursday.
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