Bilibili Q1 EPS Beats by 22%, Ad Revenue Soars 30% to RMB2.59 B
BILI•Bilibili delivered Q1 EPS of RMB1.41, surpassing estimates of RMB1.16, with revenue of RMB7.47 billion, up 7% year-over-year. Advertising revenue jumped 30% to RMB2.59 billion, offsetting a 12% drop in gaming to RMB1.52 billion, as average daily users rose 8% to 115.2 million.
1. Earnings and Revenue Beat
Bilibili posted first-quarter EPS of RMB1.41, beating the RMB1.16 consensus by 22%, and reported revenue of RMB7.47 billion, up 7% year-over-year, closely matching expectations of RMB7.49 billion.
2. Segment Performance
Advertising was the standout segment, with revenue rising 30% to RMB2.59 billion thanks to improved ad products and efficiency. Value-added services grew 4% to RMB2.91 billion, IP derivatives declined 4% to RMB448.2 million, and mobile gaming fell 12% to RMB1.52 billion on tough prior-year comparatives.
3. User Engagement Metrics
Average daily active users increased 8% to 115.2 million, while average daily time spent hit a record 119 minutes, up 11 minutes year-over-year, underscoring strong platform engagement.
4. Market Reaction and Outlook
Shares dipped about 1% in U.S. pre-market trading after the release. CEO Rui Chen remarked that the first-quarter performance demonstrates strong momentum entering 2026, with advertising efficiency and user engagement driving growth.
