哔哩哔哩公布2026年二季度业绩，收入同比增8%、调整后净利润同比增25%

SHANGHAI, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced its unaudited financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Highlights:
Average daily active users (DAUs)
were 116.5 million, representing an increase of 7% year over year.
Average daily time spent
was 113 minutes, driving total user time spent up by 14% year over year.
Total net revenues
were RMB7.94 billion (US$1.17 billion), representing an increase of 8% year over year. Advertising revenues, a key driver of total net revenues, were RMB3.13 billion (US$461.4 million), representing an increase of 28% year over year.
Gross profit
was RMB2.95 billion (US$435.5 million), representing an increase of 10% year over year. Gross profit margin reached 37.2%, improving from 36.5% in the same period of 2025.
Net profit
was RMB339.1 million (US$50.0 million), representing an increase of 55% year over year. Net profit margin was 4.3%, improving from 3.0% in the same period of 2025.
Adjusted net profit
1
was RMB703.6 million (US$103.7 million), representing an increase of 25% year over year. Adjusted net profit margin
1
was 8.9%, improving from 7.6% in the same period of 2025.
“We delivered a solid second quarter with continued growth across our ecosystem,” said Mr. Rui Chen, Chairman and Chief Executive Officer of Bilibili. “Our high-quality content and interest-based community continue to deepen user engagement, driving DAUs to 117 million, monthly active users to 371 million, and total user time spent up by over 14% year over year. In an era where content is abundant yet attention is scarce, quality and emotional connection matter more than ever, and Bilibili represents the best combination of both in today’s internet landscape. As AI enables us to fulfill this mission with greater precision and scale, we remain highly confident in our trajectory ahead.”
Mr. Sam Fan, Chief Financial Officer of Bilibili, said, “We delivered another quarter of solid financial performance, with continued revenue growth and profit expansion. Total net revenues increased 8% year over year to RMB7.9 billion, while gross profit grew 10% year over year and gross margin expanded to 37.2%, marking our 16th consecutive quarter of margin improvement. Supported by continued topline growth and stronger operating leverage, net profit increased by 55% year over year. Looking ahead, we will remain disciplined in our investments and actively return value through our share repurchase program, delivering sustainable long-term value for our shareholders.”
Second Quarter 2026 Financial Results
Total net revenues.
Total net revenues were RMB7.94 billion (US$1.17 billion), representing an increase of 8% from the same period of 2025.
Advertising.
Revenues from advertising were RMB3.13 billion (US$461.4 million), representing an increase of 28% from the same period of 2025, mainly attributable to the Company’s improved advertising product offerings and enhanced advertising efficiency.
Value-added services (VAS)
. Revenues from VAS were RMB2.97 billion (US$437.3 million), representing an increase of 5% from the same period of 2025, mainly attributable to increased revenues from premium memberships and other value-added services.
Mobile games.
Revenues from mobile games were RMB1.39 billion (US$205.1 million), representing a decrease of 14% from the same period of 2025, mainly attributable to a high base effect, reflecting the exceptional performance of
San Guo: Mou Ding Tian Xia
in the prior-year period as the title now transitions into a stable and mature life cycle.
IP derivatives and others.
Revenues from IP derivatives and others were RMB449.8 million (US$66.3 million), representing an increase of 2% from the same period of 2025.
Cost of revenues.
Cost of revenues was RMB4.98 billion (US$734.7 million), representing an increase of 7% from the same period of 2025. Revenue-sharing costs, a key component of cost of revenues, were RMB3.08 billion (US$453.6 million), representing an increase of 4% from the same period of 2025.
Gross profit.
Gross profit was RMB2.95 billion (US$435.5 million), representing an increase of 10% from the same period of 2025, primarily driven by the growth in total net revenues, which outpaced the increase in cost of revenues, as the Company enhanced its monetization efficiency.
Total operating expenses.
Total operating expenses were RMB2.58 billion (US$380.6 million), representing an increase of 7% from the same period of 2025.
Sales and marketing expenses.
Sales and marketing expenses were RMB1.06 billion (US$156.6 million), representing an increase of 1% from the same period of 2025.
General and administrative expenses.
General and administrative expenses were RMB510.8 million (US$75.3 million), flat with the same period of 2025.
Research and
development expenses.
Research and development expenses were RMB1.01 billion (US$148.7 million), representing an increase of 16% from the same period of 2025. The increase was primarily due to higher expenses related to server depreciation.
Profit from operations.
Profit from operations was RMB372.9 million (US$55.0 million), representing an increase of 48% year over year.
Adjusted profit from operations
1
.
Adjusted profit from operations was RMB696.2 million (US$102.6 million), representing an increase of 21% from the same period of 2025.
Total other expenses, net.
Total other expenses were RMB1.4 million (US$0.2 million), compared with total other expenses of RMB7.0 million in the same period of 2025.
Income tax expense.
Income tax expense was RMB32.4 million (US$4.8 million), compared with RMB26.4 million in the same period of 2025.
Net profit.
Net profit was RMB339.1 million (US$50.0 million), representing an increase of 55% from the same period of 2025.
Adjusted net profit
1
.
Adjusted net profit was RMB703.6 million (US$103.7 million), representing an increase of 25% from the same period of 2025.
Basic and diluted EPS and adjusted basic and diluted EPS
1
.
Basic and diluted earnings per share were RMB0.82 (US$0.12) and RMB0.78 (US$0.11), respectively, compared with basic and diluted net profit per share of RMB0.52 and RMB0.51, respectively, in the same period of 2025. Adjusted basic and diluted earnings per share were RMB1.69 (US$0.25) and RMB1.58 (US$0.23), respectively, compared with RMB1.34 and RMB1.29, respectively, in the same period of 2025.
Cash and cash equivalents, time deposits and short-term investments.
As of June 30, 2026, the Company had cash and cash equivalents, time deposits and short-term investments of RMB24.30 billion (US$3.58 billion).
Share Repurchase Program
Pursuant to the Company’s two-year US$300 million share repurchase program, which was approved by the Board of Directors in June 2026 (the “2026 Program”), a total of 1.9 million of the Company’s listed securities have been purchased for a total cost of approximately US$31.3 million as of June 30, 2026. From the beginning of 2026 through the date of this announcement, a total of 5.8 million of the Company’s listed securities have been purchased for a total cost of approximately US$118 million, pursuant to the 2026 Program and the previous share repurchase program approved in November 2024.
1
Adjusted net profit,
adjusted net profit margin, adjusted profit from operations and adjusted basic and diluted EPS
are non-GAAP financial measures. For more information on non-GAAP financial measures, please see the section
“
Use of Non-GAAP Financial Measures
”
and the table captioned
“
Unaudited Reconciliations of GAAP and Non-GAAP Results.
”
Conference Call
The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 27, 2026 (8:00 PM Beijing/Hong Kong Time on August 27, 2026). Details for the conference call are as follows:
Event Title:
Bilibili Inc. Second Quarter 2026 Earnings Conference Call
Registration Link:
https://register-conf.media-server.com/register/BI014b9f2c1441432badb1e9e1353bfea7
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a personal PIN, which will be used to join the conference call.
Additionally, a live webcast of the conference call will be available on the Company’s investor relations website at
http://ir.bilibili.com
, and a replay of the webcast will be available following the session.
About Bilibili Inc.
Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with “
All the Videos You Like”
as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and a frontier for promoting Chinese culture around the world.
For more information, please visit:
http://ir.bilibili.com
.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP financial measures such as adjusted profit from operations, adjusted net profit, adjusted net profit margin, adjusted net profit per share and per ADS, basic and diluted and adjusted net profit attributable to Bilibili Inc.’s shareholders in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, amortization expense related to intangible assets acquired through business acquisitions, income tax related to intangible assets acquired through business acquisitions, loss on fair value change in investments in publicly traded companies and loss on repurchase of convertible senior notes. The Company calculates adjusted net profit margin by dividing the adjusted net profit by revenue for the same period. The Company believes that the non-GAAP financial measures provide useful information about the Company’s results of operations, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP and therefore, may not be comparable to similar measures presented by other companies. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company’s operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net profit, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP.
The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.
For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results.”
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.7851 to US$1.00, the exchange rate on June 30, 2026 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred to could be converted into US$ or RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, outlook and quotations from management in this announcement, as well as Bilibili’s strategic and operational plans, contain forward-looking statements. Bilibili may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Bilibili’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: results of operations, financial condition, and stock price; Bilibili’s strategies; Bilibili’s future business development, financial condition and results of operations; Bilibili’s ability to retain and increase the number of users, members and advertising customers, provide quality content, products and services, and expand its product and service offerings; competition in the online entertainment industry; Bilibili’s ability to maintain its culture and brand image within its addressable user communities; Bilibili’s ability to manage its costs and expenses; PRC governmental policies and regulations relating to the online entertainment industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Bilibili Inc.
Juliet Yang
Tel: +86-21-2509-9255 Ext. 8523
E-mail:
ir@bilibili.com
Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
E-mail:
bilibili@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail:
bilibili@tpg-ir.com
BILIBILI INC.
Unaudited Condensed Consolidated Statements of Operations
(All amounts in thousands, except for share and per share data)
For the Three Months Ended
For the Six Months Ended
June
30,
March
31,
June
30,
June
30,
June
30,
2025
2026
2026
2025
2026
RMB
RMB
RMB
RMB
RMB
Net revenues:
Value-added services (VAS)
2,836,596
2,912,485
2,967,415
5,643,936
5,879,900
Advertising
2,448,888
2,588,788
3,130,759
4,446,523
5,719,547
Mobile games
1,612,333
1,522,552
1,391,902
3,343,488
2,914,454
IP derivatives and others
439,873
448,210
449,847
906,991
898,057
Total net revenues
7,337,690
7,472,035
7,939,923
14,340,938
15,411,958
Cost of revenues
(4,661,844
)
(4,698,795
)
(4,984,967
)
(9,125,994
)
(9,683,762
)
Gross profit
2,675,846
2,773,240
2,954,956
5,214,944
5,728,196
Operating expenses:
Sales and marketing expenses
(1,048,189
)
(1,152,711
)
(1,062,592
)
(2,215,164
)
(2,215,303
)
General and administrative expenses
(509,631
)
(532,667
)
(510,848
)
(1,025,269
)
(1,043,515
)
Research and development expenses
(866,414
)
(921,107
)
(1,008,646
)
(1,707,891
)
(1,929,753
)
Total operating expenses
(2,424,234
)
(2,606,485
)
(2,582,086
)
(4,948,324
)
(5,188,571
)
Profit from operations
251,612
166,755
372,870
266,620
539,625
Other (expense)/income:
Investment (loss)/income, net (including impairments)
(56,875
)
64,551
(74,102
)
(119,078
)
(9,551
)
Interest income
101,639
107,832
100,895
195,812
208,727
Interest expense
(35,506
)
(39,337
)
(37,549
)
(68,077
)
(76,886
)
Exchange losses
(11,710
)
(74,555
)
(89,671
)
(23,369
)
(164,226
)
Debt extinguishment loss
(2
)
-
-
(2
)
-
Others, net
(4,518
)
(3,963
)
99,050
(6,355
)
95,087
Total other (expense)/income, net
(6,972
)
54,528
(1,377
)
(21,069
)
53,151
Profit before income tax
244,640
221,283
371,493
245,551
592,776
Income tax expense
(26,357
)
(19,288
)
(32,417
)
(37,945
)
(51,705
)
Net profit
218,283
201,995
339,076
207,606
541,071
Net loss attributable to noncontrolling interests
719
7,784
4,653
2,294
12,437
Net profit attributable to Bilibili Inc.’s
shareholders
219,002
209,779
343,729
209,900
553,508
Net profit per share, basic
0.52
0.50
0.82
0.50
1.32
Net profit per ADS, basic
0.52
0.50
0.82
0.50
1.32
Net profit per share, diluted
0.51
0.48
0.78
0.49
1.25
Net profit per ADS, diluted
0.51
0.48
0.78
0.49
1.25
Weighted average number of ordinary shares, basic
419,443,582
419,457,332
418,461,204
419,763,214
418,956,516
Weighted average number of ADS, basic
419,443,582
419,457,332
418,461,204
419,763,214
418,956,516
Weighted average number of ordinary shares, diluted
437,370,780
459,453,791
453,578,335
431,601,628
456,513,310
Weighted average number of ADS, diluted
437,370,780
459,453,791
453,578,335
431,601,628
456,513,310
The accompanying notes are an integral part of this press release.
BILIBILI INC.
Notes to Unaudited Financial Information
(All amounts in thousands, except for share and per share data)
For the Three Months Ended
For the Six Months Ended
June
30,
March
31,
June
30,
June
30,
June
30,
2025
2026
2026
2025
2026
RMB
RMB
RMB
RMB
RMB
Share-based compensation expenses
included in
:
Cost of revenues
26,314
29,407
28,078
50,310
57,485
Sales and marketing expenses
19,800
23,828
22,122
36,217
45,950
General and administrative expenses
137,165
155,814
135,717
281,662
291,531
Research and development expenses
101,568
107,364
96,771
207,423
204,135
Total
284,847
316,413
282,688
575,612
599,101
BILIBILI INC.
Unaudited Condensed Consolidated Balance Sheets
(All amounts in thousands, except for share and per share data)
December
31,
June
30,
2025
2026
RMB
RMB
Assets
Current assets:
Cash and cash equivalents
12,183,538
5,163,796
Time deposits
5,522,327
9,766,542
Restricted cash
50,800
800
Accounts receivable, net
1,268,219
1,681,119
Prepayments and other current assets
2,077,999
2,190,632
Short-term investments
6,447,197
9,369,368
Total current assets
27,550,080
28,172,257
Non-current assets:
Property and equipment, net
695,105
2,076,571
Production cost, net
1,599,896
1,376,169
Intangible assets, net
3,109,603
2,893,031
Goodwill
2,818,125
2,818,125
Long-term investments, net
4,761,653
4,570,559
Other long-term assets
633,301
572,862
Total non-current assets
13,617,683
14,307,317
Total assets
41,167,763
42,479,574
Liabilities
Current liabilities:
Accounts payable
5,497,415
6,283,459
Salary and welfare payables
1,710,322
1,485,188
Taxes payable
405,887
400,415
Short-term loans and current portion of long-term debts
4,860,846
4,878,643
Deferred revenue
4,661,863
4,636,240
Accrued liabilities and other payables
3,190,679
3,705,014
Total current liabilities
20,327,012
21,388,959
Non-current liabilities:
Long-term debts
4,775,871
4,635,647
Other long-term liabilities
516,317
540,847
Total non-current liabilities
5,292,188
5,176,494
Total liabilities
25,619,200
26,565,453
Total Bilibili Inc.’s shareholders’ equity
15,573,282
15,951,277
Noncontrolling interests
(24,719
)
(37,156
)
Total shareholders’ equity
15,548,563
15,914,121
Total liabilities and shareholders’ equity
41,167,763
42,479,574
BILIBILI INC.
Unaudited Reconciliations of GAAP and Non-GAAP Results
(All amounts in thousands, except for share and per share data)
For the Three Months Ended
For the Six Months Ended
June
30,
March
31,
June
30,
June
30,
June
30,
2025
2026
2026
2025
2026
RMB
RMB
RMB
RMB
RMB
Profit from operations
251,612
166,755
372,870
266,620
539,625
Add:
Share-based compensation expenses
284,847
316,413
282,688
575,612
599,101
Amortization expense related to intangible assets acquired through business acquisitions
36,692
40,687
40,687
73,384
81,374
Adjusted profit from operations
573,151
523,855
696,245
915,616
1,220,100
Net profit
218,283
201,995
339,076
207,606
541,071
Add:
Share-based compensation expenses
284,847
316,413
282,688
575,612
599,101
Amortization expense related to intangible assets acquired through business acquisitions
36,692
40,687
40,687
73,384
81,374
Income tax related to intangible assets acquired through business acquisitions
(4,136
)
(1,731
)
(1,731
)
(8,272
)
(3,462
)
Loss on fair value change in investments in publicly traded companies
25,641
28,066
42,907
74,510
70,973
Loss on repurchase of convertible senior notes
2
-
-
2
-
Adjusted net profit
561,329
585,430
703,627
922,842
1,289,057
Net profit margin
3.0
%
2.7
%
4.3
%
1.4
%
3.5
%
Adjusted net profit margin
7.6
%
7.8
%
8.9
%
6.4
%
8.4
%
Net loss attributable to noncontrolling interests
719
7,784
4,653
2,294
12,437
Adjusted net profit attributable to Bilibili
Inc.’s shareholders
562,048
593,214
708,280
925,136
1,301,494
Adjusted net profit per share, basic
1.34
1.41
1.69
2.20
3.11
Adjusted net profit per ADS, basic
1.34
1.41
1.69
2.20
3.11
Adjusted net profit per share, diluted
1.29
1.31
1.58
2.15
2.89
Adjusted net profit per ADS, diluted
1.29
1.31
1.58
2.15
2.89
Weighted average number of ordinary shares, basic
419,443,582
419,457,332
418,461,204
419,763,214
418,956,516
Weighted average number of ADS, basic
419,443,582
419,457,332
418,461,204
419,763,214
418,956,516
Weighted average number of ordinary shares, diluted
437,370,780
459,453,791
453,578,335
431,601,628
456,513,310
Weighted average number of ADS, diluted
437,370,780
459,453,791
453,578,335
431,601,628
456,513,310