Bilibili's mobile games revenue rose 60% to RMB1.61 billion in the second quarter of 2025

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.

On Aug 21, 2025, Bilibili, a video platform in China whose shares trade on Nasdaq and in Hong Kong, announced results for the second quarter ended June 30, 2025. It filed them with the SEC in a Form 6-K, the report a foreign private issuer files, with its press release and a Hong Kong interim results announcement attached. Mobile games revenue was RMB1.61 billion (US$225.1 million at the company's translation rate), up 60% from the same quarter of 2024, and the company said the gain was mainly due to the performance of San Guo: Mou Ding Tian Xia, a strategy game it holds an exclusive licence for. Total net revenues were RMB7.34 billion, up 20% from a year earlier, with advertising at RMB2.45 billion, also up 20%, and value-added services at RMB2.84 billion, up 11%.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11

For the six months to June 30, 2025, mobile games revenue was RMB3.34 billion, up 68.0% from RMB1.99 billion a year earlier, according to the interim results announcement filed with the release. The company said that growth was propelled by San Mou, its short name for the game, in its first year and by what it called its legacy titles, Fate Grand Order and Azur Lane. It also said that in the first half game developers allocated larger ad budgets on Bilibili, and it counted games among its top five advertising verticals.12^,13^,8^,14

For the second quarter, net profit was RMB218.3 million, against a net loss of RMB608.1 million in the same quarter of 2024. Profit attributable to Bilibili's own shareholders in the quarter, a figure that leaves out non-controlling interests, was RMB219.0 million. Adjusted net profit for the quarter, a non-GAAP measure the company defines itself, was RMB561.3 million, against an adjusted net loss of RMB271.0 million in the same quarter of 2024. The adjusted measures leave out share-based compensation expenses and other items the company lists, among them gains or losses on investments in listed companies. Net cash provided by operating activities in the quarter was RMB1.99 billion, against RMB1.75 billion in the same quarter of 2024.15^,2^,16^,17^,18^,19^,20

In May 2025 the company had completed an offering of US$690.0 million of convertible senior notes due 2030 at 0.625% a year. At the same time it repurchased 5,588,140 Class Z ordinary shares for HK$782.9 million. At the end of the quarter it held RMB22.29 billion in cash, time deposits and short-term investments.21^,22^,23

The release gave its figures in renminbi, and the company said its dollar amounts were translations at RMB7.1636 to US$1.00, the rate on June 30, 2025, made for the reader's convenience. The company described the quarter's figures as unaudited.24^,2