Report

BILI: 1Q25 Flash: Results Top Expectations Driven by Gaming

Total revenues were RMB7.00bn (-9.5% QoQ and +23.6% YoY), above consensus estimates of RMB6.91bn and our expectations
of RMB6.92bn. non-GAAP net margin came in at 5.2%, above our estimates of 1.7% and up from (7.8%) in 1Q24. Non-GAAP diluted EPS per ADS came in at RMB0.85, above consensus estimates of RMB0.55 and our expectations of RMB0.27

Analysts:
Jin Yoon
Underlying
Bilibili Inc. Sponsored ADR Class Z

Provider
New Street Research
New Street Research

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Analysts
Jin Yoon

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