Bilibili's revenue rises 19% in 2024, net loss shrinks 72%

Bilibili Inc. (HKEX: 9626) reported a 19% increase in total revenues, reaching RMB26.8 billion for the year ended December 31, 2024, driven by growth in advertising and mobile games. Advertising revenue increased by 28%, while mobile games revenue rose by 40%, spurred by the strategy game San Mou. Gross profit increased by 61% to RMB8.8 billion, with a gross profit margin of 32.7%. The company achieved its first profitable quarter in Q4 2024 and reduced its full-year net loss by 72% to RMB1.4 billion. Daily Active Users (DAUs) averaged nearly 104 million, and Monthly Active Users (MAUs) surpassed 341 million. The company completed repurchases of April and December 2026 Notes, with the outstanding principal amount of notes at US$13.4 million. Looking ahead, Bilibili aims to drive sustainable profitability and unlock value through efficient commercial products and services.