BILIBILI(US:BILI) Sou Hu Cai Jing·2025-11-13 10:32Core Insights - Bilibili (B站) reported record highs in key user metrics for Q3 2025, with daily active users increasing by 9% year-over-year to 117 million, and monthly active users rising by 8% to 376 million [1] - The company achieved a net revenue of RMB 7.69 billion (USD 1.08 billion), a 5% increase compared to the same period in 2024 [1] - Adjusted net profit surged by 233% year-over-year to RMB 786 million (USD 110.5 million), with an adjusted net profit margin of 10.2% [1] User Metrics - Daily active users reached 117.3 million, up 9% year-over-year - Monthly active users grew to 376 million, reflecting an 8% increase - Monthly paying users increased by 17% to 35 million - Average daily usage time per user was 112 minutes, an increase of 6 minutes year-over-year [1] Financial Performance - Total net revenue for Q3 2025 was RMB 76.9 billion (USD 10.8 billion), a 5% increase from the previous year - Advertising revenue amounted to RMB 25.7 billion (USD 3.61 billion), up 23% year-over-year - Gross profit reached RMB 28.2 billion (USD 3.96 billion), an 11% increase, with a gross margin of 36.7%, up from 34.9% in 2024 [1] - Net profit for the quarter was RMB 4.694 billion (USD 659 million), compared to a net loss of RMB 798 million in the same quarter of 2024 [1] Revenue Breakdown - Value-added services revenue was RMB 30.2 billion (USD 4.25 billion), a 7% increase year-over-year - Mobile gaming revenue decreased by 17% to RMB 15.1 billion (USD 2.12 billion), attributed to a high performance base from the previous year - Revenue from IP derivatives and others rose by 3% to RMB 5.823 billion (USD 818 million) [1]