Q1 2026 Bilibili Inc Earnings Call Transcript
Key Points
- Bilibili Inc (BILI) reported a 7% year-over-year increase in total revenues, reaching RMB7.5 billion.
- The company achieved a 30% year-over-year growth in advertising revenue, marking its 13th consecutive quarter of double-digit growth.
- Daily active users (DAUs) grew by 8% year over year to 115 million, and monthly active users (MAUs) increased to 376 million.
- Gross profit rose by 9% year over year, with a gross margin reaching 37.1%, marking the 15th consecutive quarter of margin expansion.
- The number of creators with over 1,000 followers grew by more than 30% year over year, and average income per creator increased by 24%.
- Game revenues declined by 12% year over year, primarily due to a high base set by a successful title in the previous year.
- VAS revenue growth was modest at 4% year over year, indicating slower growth compared to other segments.
- The company anticipates an increase in AI-related CapEx by approximately RMB1 billion for the full year, impacting financials.
- Despite improvements, the games segment faced challenges in maintaining growth momentum due to high competition and market saturation.
- Operating expenses increased by 3% year over year, with R&D expenses rising by 9% due to expanded AI investments.
Good day, and welcome to Bilibili's first-quarter 2026 financial results And business update conference call. Today's conference is being recorded.
At this time, I'd like to turn the conference over to Juliet Yang, Executive Director of Investor Relations. Please go ahead.
Thank you, operator. During this call, we'll discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially from those mentioned in today's news release and in this discussion due to a number of risks and uncertainties and including those mentioned in our most recent filings with the SEC and Hong Kong Stock Exchange.
The non-GAAP financial measure will provide are for comparison purpose only. The definition of this measure and the reconciliation table are available in the news release we issued earlier today. As a reminder, this conference is being recorded. In addition, an investor presentation and a
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