Bilibili reports strong Q3 2025 results, swings to profit

Bilibili Inc. reported total net revenues of RMB7.69 billion for Q3 2025, an increase of 5% year-over-year. Advertising revenues surged by 23% to RMB2.57 billion, highlighting enhanced advertising efficiency and product offerings. The company achieved a gross profit of RMB2.82 billion, up 11% year-over-year, with the gross profit margin expanding to 36.7% from 34.9% in Q3 2024.

Net profit for the quarter was RMB469.4 million, a notable improvement from a net loss of RMB79.8 million in the same period last year. Adjusted net profit saw a substantial rise of 233% year-over-year to RMB786.3 million, pushing the adjusted net profit margin to 10.2% from 3.2% in Q3 2024. Total operating expenses decreased by 6% to RMB2.46 billion, contributing to a profit from operations of RMB353.9 million, a reversal from a loss in Q3 2024.

Average daily active users (DAUs) grew by 9% year-over-year to 117.3 million, with monthly active users increasing by 8% to 376 million. Monthly paying users also saw a 17% increase, reaching 35 million. These user engagement metrics reached all-time highs, with average daily time spent at a record 112 minutes, up 6 minutes year-over-year.