Bilibili Q2 2026 Net Revenue Up 8.2% to RMB 7.94 Billion
Bilibili reported unaudited second-quarter 2026 results with net revenue of RMB 7.94 billion, up 8.2% year over year. Net profit rose 55% to RMB 339 million, with margin expanding to 4.3%. Adjusted net profit grew 25% to RMB 704 million. Daily active users reached 116.5 million, up 7%, while advertising revenue surged 28% to become the largest segment.
Bilibili released its unaudited financial results for the second quarter of 2026. Revenue for the period reached RMB 7.94 billion, up 8% year over year. Net profit totaled RMB 339 million, a 55% increase, with net margin rising to 4.3% from 3.0% in the same period of 2025. Non-GAAP adjusted net profit grew 25% to RMB 704 million, and the adjusted net margin improved to 8.9%. Adjusted earnings per share stood at RMB 1.58, compared with RMB 1.29 in the year-ago quarter.
Daily active users (DAU) averaged 116.5 million in the second quarter, up 7% year over year, while monthly active users reached 371 million. Average daily time spent per user was 113 minutes, driving a 14% increase in total user time spent.
Advertising revenue rose 28% to RMB 3.13 billion, accounting for nearly 40% of total revenue and becoming the largest revenue segment. Value-added services revenue grew 5% to RMB 2.97 billion, mainly driven by higher revenue from premium membership and other value-added services. Mobile games revenue declined 14% to RMB 1.39 billion, primarily due to a high comparison base from "Three Kingdoms: Strategic Edition" in the same period of 2025, as the game has entered a stable and mature phase.
Revenue costs increased 7% to RMB 4.98 billion, below the revenue growth rate, resulting in a gross profit of RMB 2.95 billion, up 10%. Gross margin improved to 37.2% from 36.5% in the same period of 2025, marking the 16th consecutive quarter of year-over-year improvement. Total operating expenses rose 7% to RMB 2.58 billion, including selling expenses of RMB 1.06 billion (up 1%), administrative expenses of RMB 510 million (flat year over year), and research and development expenses of RMB 1.01 billion (up 16%, mainly due to increased server depreciation). Operating profit reached RMB 373 million, up 48%.
As of June 30, 2026, the company held RMB 24.3 billion in cash and cash equivalents, time deposits, and short-term investments. Under the two-year US$300 million share repurchase program approved in June 2026, the company had repurchased 1.9 million listed securities for a total cost of approximately US$31.3 million as of June 30, 2026. From the beginning of 2026 to the date of this announcement, the company had repurchased a cumulative 5.8 million listed securities under the 2026 program and the share repurchase program approved in November 2024, at a total cost of approximately US$118 million.