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Bilibili margins keep rising as ad revenue accelerates
In the quarter ended June 30, advertising revenue grew 28% year over year and gross margin reached 37.2%, up from 36.5% a year earlier.
Bilibili delivered another period of expanding profitability, posting its 16th straight quarter of gross margin improvement alongside strong advertising growth, according to Yahoo Finance.
For the quarter ended June 30, 2026, the company reported advertising revenue up 28% year over year, while GAAP net profit rose 55% year over year as total revenue increased 8% to RMB 7.94 billion.
The ad segment reached RMB 3.13 billion, and management pointed to AI as a driver of growth, including a more than doubling of AI advertising revenue and double-digit gains in search advertising. Bilibili also said click-through and conversion rates improved 19% year over year.
Bilibili reported gross margin of 37.2% and adjusted net profit of RMB 703.6 million, with adjusted net profit margin at 8.9%. The company also outlined shareholder returns, repurchasing 5.8 million shares for $118 million since the start of 2026 and authorizing a two-year, $300 million buyback program.