BILI 2Q26 earnings call transcript.
Game revenue was RMB 1.4 bn (-14% YoY). Management guided that games will return to positive YoY growth starting in Q4, and earmarked RMB 1 bn in AI spend for three priorities: video understanding, distribution, and creation.
After the HK close on Aug. 27 (Beijing time), $Bilibili(BILI.US) reported Q2 2026 results. The print was largely in line, and the story still hinges on the games pipeline.
Specifically:1) Advertising growth remained solid. Q2 ad revenue rose 28%, in line. The industry backdrop deteriorated this quarter, making the print respectable.Drivers included stable growth in platform traffic (total time spent), alongside a higher ad load. Also a structural lift from marketing tied to launches of AI foundation models, applications, and other new products.
+8Below is Dolphin Research's Trans of $Bilibili(BILI.US) 1Q26 earnings call. For our earnings take, cf. 'Bilibili: A False Alarm on Stake Sale, Margin Erosion? Games to the Rescue'.
1) Shareholder returns: the $200mn share repurchase has been fully executed as of today, with 9.3mn shares bought back. The BOD is considering authorizing a new buyback program in due course.2) Q2 and full-year outlook: Q2 ad revenue is expected to sustain rapid growth, driven by AI initiatives. GPM should improve steadily...After the HK market close on May 19 (Beijing time), $Bilibili(BILI.US) released its Q1 2026 results, marking another ads-led quarter. Overall in line with expectations.
1) Ads remain in a clear sweet spot. Q1 ad revenue rose 30%, a slight beat even against a weak industry backdrop.Buoyed by robust demand from AI and gaming and heightened advertiser competition, Bilibili captured meaningful ad tailwinds. This high-growth phase should persist for a while, supported by sustained sector momentum and competitive intensity...After the HK close on May 19 (Beijing time), Bilibili reported Q1 2026 results. It was another ad‑led print, broadly in line with expectations.
Advertising was the clear bright spot, with Q1 ad revenue up 30%, a slight beat despite a weak industry backdrop. Benefiting from buoyant AI and gaming demand and fierce competition for users, the company captured meaningful ad budgets.
This high‑growth phase should persist for a while, as those sectors remain hot and competition stays intense. In addition, Bilibili still has ad inventory to open up, providing incremental monetization room...
Below is the 4Q25 earnings call Trans for $Bilibili(BILI.US). For our earnings take, see 'Bilibili: Ads Resilient; Tough Stretch for the Platform'.
I. Key financial metrics. II. Management remarks.1) Community development: momentum accelerated, with DAUs and MAUs rising. While fast-food content still floods the internet, more users are seeking deeper, higher-quality content.By early 2026, our users' Avg. age reached 26.5. They are higher-income, with stronger spending power and more diverse needs...After the HK close on Mar 5 (Beijing time), $Bilibili(BILI.US) released its Q4 2025 results. Ads were the standout, while other businesses were average and broadly in line with expectations.
1) Ads posted 27% growth in Q4, slightly above market estimates. Dolphin Research views the drivers as both healthier ecosystem growth (steady gains in users and creator content) and proactive initiatives, including higher ad load, improved ad efficiency, and AIGC-based ad creation tools...The following is a summary compiled by Dolphin Research regarding the Q3 2025 earnings call minutes for $Bilibili(BILI.US). For financial report commentary, please refer to "Bilibili: Ecosystem Continues to Recover, the Small Station Grows Again." 1. Review of Core Financial Information: The third quarter achieved solid financial performance. As the revenue structure shifts towards high-profit businesses, total net income increased by 5% year-on-year to RMB 7.7 billion, with value-added services contributing approximately 39%, advertising business contributing 33%, gaming business contributing 20%, and IP business contributing 8%...
On November 14th, after the Hong Kong stock market closed, $Bilibili(BILI.US) released its Q3 2025 financial report. Overall, it slightly exceeded expectations, with highlights in advertising revenue, profits, and user metrics, while gaming and live streaming were relatively weak. The market reaction on the day of the report was muted, mainly due to the broader market impact, and some funds might have been concerned about the lack of short-term guidance surprises. Specifically: 1. Healthy expansion of the user ecosystem: This is considered the biggest highlight of the financial report by Dolphin Research. Q3 is the peak season during the summer vacation, and Bilibili's monthly active users (MAU) increased by 13 million compared to the previous quarter...
The following is the minutes of the Q2 2025 earnings call for $Bilibili(BILI.US) organized by Dolphin Research. For earnings interpretation, please refer to "Bilibili: After Completing the 'Three Strategies', What's Next?" 1. Core Information Review of the Financial Report: a. Guidance: Management will continue to focus on providing the best PUGV community experience to attract more users and achieve mutual growth. Meanwhile, the company plans to actively invest in commercialization initiatives to drive sustainable profitability. b. In the future, the company will continue to focus on its unique high-quality content...
