Bilibili Inc. Q2 2026 Earnings Recap

Bilibili's shares gained modestly by 2.8% following Q2 results that showed steady user engagement and revenue growth, although the market reaction suggests investors viewed the quarter as broadly in line with expectations without clear surprises.

Key Takeaways

• Daily Active Users (DAUs) rose 7% to 117 million, with Monthly Active Users (MAUs) reaching 371 million.
• Average daily time spent per user increased to 113 minutes, driving total time spent up by over 14% year-over-year.
• Advertising revenue grew 28% year-over-year to RMB 3.1 billion, marking continued strong performance in the segment.
• Total Q2 revenue increased 8% year-over-year to RMB 7.9 billion, with gross margin expanding to 37.2%, the 16th straight quarter of margin improvement.
• Adjusted net profit rose 55% year-over-year to RMB 704 million, with adjusted net margin at 8.9%, driven by operating leverage and revenue growth.