BILIBILI(US:BILI) Zhong Guo Jing Ying Bao·2025-11-14 12:31Core Viewpoint - Bilibili (NASDAQ: BILI, HKEX: 9626) reported Q3 2025 earnings with revenue of 7.69 billion yuan, a 5% year-on-year increase, driven by strong advertising revenue growth of 23% [2][3] Revenue Structure - Q3 2025 revenue breakdown: Value-added services contributed 30.2 billion yuan (up 7% YoY), advertising contributed 25.7 billion yuan (up 23% YoY), mobile gaming revenue was 15.1 billion yuan (down 17% YoY), and other businesses contributed 5.82 billion yuan (up 3% YoY) [3][6] - The increase in value-added services revenue was primarily due to growth in paid memberships and other services [3] User Engagement - Daily active users reached 117 million, up 9% YoY, while monthly active users reached 376 million, up 8% YoY [4] - The average daily usage time increased to 112 minutes, a rise of 6 minutes YoY [4] - The number of paying users hit a record high of 35 million, representing a 17% increase YoY, with "big members" being the main driver of this growth [4][5] Advertising Performance - Advertising revenue for Q3 was 25.7 billion yuan, with the top five contributing industries being gaming, internet services, digital appliances, e-commerce, and automotive [6] - During the "Double Eleven" shopping festival, Bilibili's advertising revenue grew approximately 30% YoY, with customer numbers increasing over 100% [7] AI Integration - Bilibili emphasized its strong AI presence, claiming to have the highest concentration of AI-related content creators and users in China [7] - In Q3, AI-related content viewing time increased by nearly 50%, with around 100,000 active AI-related content creators each month [7] - The company plans to focus on video AI solutions to assist creators in producing more and better content [7]