On Feb 20, 2025, Bilibili reported a net profit of RMB88.9 million for the fourth quarter of 2024

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Bilibili announced on Feb 20, 2025 that it made a net profit of RMB88.9 million in the fourth quarter of 2024, against a net loss of RMB1.30 billion in the same period a year earlier. The figures are unaudited and the net profit is the consolidated figure; the profit attributable to Bilibili's shareholders was RMB89.96 million for the quarter, and the loss attributable to them for the fiscal year was RMB1.35 billion. Bilibili filed the announcement the same day as a press release in a Form 6-K, the report a foreign company files with the US Securities and Exchange Commission for news it has published elsewhere.1^,2^,3^,4^,5^,6

Total net revenues were RMB7.73 billion in the quarter, 22% more than the RMB6.35 billion of the same period of 2023. For the fiscal year ended Dec 31, 2024, they were RMB26.83 billion, an increase of 19% from RMB22.53 billion in 2023. Mobile games revenue was RMB1.80 billion in the quarter, an increase of 79% from RMB1.01 billion in the same period of 2023, and RMB5.61 billion for the year, up 40% from RMB4.02 billion. Bilibili attributed the quarter's rise mainly to its exclusively licensed game San Guo: Mou Ding Tian Xia, which launched in 2024. Revenue-sharing costs, a key component of cost of revenues, rose 12% from the same period of 2023 to RMB3.17 billion in the quarter, which the company put down mainly to an increase in mobile games-related revenue-sharing costs. Advertising revenue rose 24% from the same period of 2023 to RMB2.39 billion in the quarter and revenue from value-added services (VAS) rose 8% to RMB3.08 billion, while revenue from IP derivatives and others fell 16% to RMB464.9 million.7^,8^,1^,9^,10^,11^,12^,13^,14^,15^,16

Gross profit margin was 36.1% in the quarter, against 26.1% in the fourth quarter of 2023. Profit from operations was RMB126.4 million in the quarter, against a loss of RMB1.30 billion in the same period of 2023. Research and development expenses fell 31% to RMB919.3 million in the quarter, which the company put down mainly to one-off termination expenses of certain game projects in the fourth quarter of 2023; its reconciliation of non-GAAP results puts those expenses at RMB354.8 million. For the fiscal year, the net loss was RMB1.36 billion, narrowing by 72% from RMB4.81 billion in 2023. Bilibili's adjusted net profit, a non-GAAP measure (one outside the US accounting rules, GAAP) that leaves out items such as share-based compensation expenses and the termination expenses of certain game projects, was RMB452.0 million in the quarter, against an adjusted net loss of RMB555.8 million in the same period of 2023.17^,18^,19^,20^,21^,22^,23^,24

Chairman and chief executive Rui Chen said the quarter was the company's first quarter of GAAP profitability.25