Bilibili Achieves Major Profit Milestone in 2025
Riding AI Wave and Strong Advertising Growth
Bilibili Inc., one of China's leading video communities popular among young audiences, today announced robust financial results for the fourth quarter and fiscal year ended December 31, 2024.
Marking a significant turnaround, the company achieved profitability in Q4 2024 with a net profit of RMB88.9 million (US$12.2 million), a remarkable reversal from a net loss of RMB1.30 billion in the same quarter of the previous year.
Bilibili’s total net revenues for Q4 reached RMB7.73 billion (US$1.06 billion), a substantial 22% growth year-over-year. For the full fiscal year 2024, total revenues grew by 19%, reaching RMB26.83 billion (US$3.68 billion), highlighting the company's successful monetization strategy and improving operational efficiency.
Advertising revenue was a significant growth driver, generating RMB2.39 billion (US$327.2 million) in Q4, reflecting a 24% year-over-year increase. For the entire year, advertising revenues soared by 28%, totaling RMB8.19 billion (US$1.12 billion). This strong performance was attributed to Bilibili’s enhanced advertising products and growing commercial efficiency.
Mobile gaming also saw remarkable growth, with quarterly revenues soaring 79% to RMB1.80 billion (US$246.3 million), fueled primarily by the success of Bilibili’s exclusively licensed game, "San Guo: Mou Ding Tian Xia." Annual gaming revenues increased 40% to RMB5.61 billion (US$768.6 million).
“Our relentless efforts to enhance commercialization efficiency and enrich user experience through innovative content have clearly paid off,” said Rui Chen, Chairman and CEO of Bilibili. “Our users now average 99 minutes daily on our platform, underscoring our unique position within China's digital landscape.”
The company also saw significant profitability improvements. Gross profit in Q4 increased by 68% year-over-year to RMB2.79 billion (US$382.0 million), boosting the gross margin to 36.1%.
Notably, Bilibili achieved its first-ever GAAP quarterly net profit at RMB88.9 million (US$12.2 million), reversing a substantial loss from the previous year. Adjusted net profit for the quarter stood at RMB452.0 million (US$61.9 million), a sharp turnaround from last year's adjusted loss.
AI has emerged as a significant growth driver for Bilibili. “We're encouraged by the potential of open-source AI models,” remarked CEO Rui Chen. “Leveraging our exclusive data assets, we expect to capture greater value from the ongoing AI revolution.”
For investors, the results are promising. CFO Sam Fan highlighted the company’s robust cash flow, with operating cash flow reaching RMB6.01 billion (US$824.0 million) in 2024, significantly higher than the previous year.
Additionally, Bilibili demonstrated confidence through substantial share repurchases totaling US$864.8 million during the year, indicating strong financial health and commitment to shareholder returns.
Looking forward, Bilibili is poised to capitalize further on AI advancements and its flourishing advertising and gaming segments. The combination positions the company to continue its upward trajectory, solidifying its role as a pioneering player in China's fast-evolving tech and digital entertainment market.
About Bilibili
China's Leading Video Community for the Digital Generation
Founded in 2009, Bilibili Inc. is an iconic video-sharing platform deeply embedded in the digital culture of China's youth.
Known for its vibrant community-driven approach and unique interactive video experience—including user-generated content, anime, gaming, and live streaming.
Bilibili has built a highly engaged community with over 340 million monthly active users, primarily Gen Z and millennials.
Initially recognized for anime, comics, and gaming (ACG culture), Bilibili has expanded into broader mainstream entertainment, educational content, mobile games, and live streaming services.
Leveraging cutting-edge AI technology, proprietary content, and exclusive IP assets, Bilibili continues to deliver personalized and engaging experiences, driving robust growth in advertising and gaming revenues.