BRIEF: Mobile Gaming drives Bilibili to first-ever quarterly profit

Video platform Bilibili Inc. (9626.HK, BILI.US) on Thursday reported its revenue for the fourth quarter of last year rose 22% to 7.73 billion yuan ($1.06 billion), as it recorded its first-ever quarterly profit of 89.96 million yuan ($12.37 million), reversing a net loss of 1.3 billion yuan a year earlier. The company also reported an adjusted net profit of 450 million yuan for the quarter, reversing an adjusted loss of 560 million yuan a year earlier.

Bilibili’s advertising revenue rose 24% year-on-year to 2.39 billion yuan during the quarter, driven by product optimization and improved ad efficiency. Its mobile gaming revenue surged 79% to 1.8 billion yuan, fueled by the strong performance of its exclusive licensed game “San Guo: Mou Ding Tian Xia,” launched last year. Value-added services revenue grew 8% to 3.08 billion yuan, supported by increases in other premium services and membership subscriptions.

Bilibili reported annual revenue of 26.83 billion yuan ($3.69 billion) for all of 2024, up 19% year-on-year, while its net loss for the year narrowed by 72% to 1.36 billion yuan.

Bilibili’s U.S.-listed shares surged 8.7% on Thursday to close at $22.11. In Hong Kong, the stock opened 9.4% higher at HK$169.4 on Friday and later extended gains, rose 13.57% to HK$175.8 by the midday break.

By Lee Shih Ta

To subscribe to Bamboo Works weekly free newsletter, click  here