Bilibili Reports Strong Q1 Growth with Increased Revenue and User Engagement

May 20, 2025

Bilibili (BILI, Financial) has released its first-quarter financial results, showcasing a revenue of 7 billion yuan, marking a 24% year-over-year increase. The breakdown of revenue includes 2.81 billion yuan from value-added services, 2 billion yuan from advertising, 1.83 billion yuan from gaming, and 470 million yuan from IP derivatives and other sources.

The platform's user engagement metrics have also reached new heights, with average daily active users hitting 106.7 million and monthly active users setting a record at 368 million. This surge in user activity has significantly contributed to the rapid growth of Bilibili's advertising and gaming revenue.

As a result of these positive developments, Bilibili's gross profit has seen a substantial year-over-year increase of 58%. The company has managed to improve its gross margin for 11 consecutive quarters, reaching 36.3% in the latest quarter.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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