EarningsQ2 2026 Earnings Report
MX:BILIN Q2 2026 EPS Results
Actual EPS$4.26
Consensus EPS$4.08
Beat/MissBeat by +$0.19
One Year Ago EPS$3.48
MX:BILIN Q2 2026 Revenue Results
Actual Revenue$21.11B
Expected Revenue$21.39B
Beat/MissMissed by -$286.42M
YoY Revenue Growth+14.98%
Earnings Announcement Details
QuarterQ2 2026
Date08/27/2026
TimeBefore Open
Conference CallThursday, August 27, 2026
MX:BILIN Upcoming Earnings
Bilibili's next earnings date is estimated for November 12, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:BILIN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial beats: solid user growth and engagement, industry‑leading ad expansion (+28% YoY), expanding margins (16 consecutive quarters of improvement), significant net profit and adjusted profit growth, healthy creator ecosystem expansion, and a clear AI strategy with committed investment. Offsetting factors include a 14% YoY decline in game revenue, modest VAS growth (5% YoY), elevated near‑term R&D/AI spend, and acknowledged macro uncertainty that could pressure advertising in H2. On balance, the positives around monetization, margin expansion, cash position and a clear pipeline outweigh the near‑term challenges and investments.Company Guidance
User Growth and Engagement
DAUs increased 7% YoY to 117 million; MAUs grew to 371 million. Average daily time spent rose to 113 minutes from 105 minutes a year ago (+7.6 minutes), driving total time spent up over 14% YoY.
Advertising Momentum
Advertising revenue grew 28% YoY to RMB 3.1 billion (39% of total revenue), marking the 14th straight quarter of >=20% YoY ad growth. CTCVR (conversion rate) improved 19% YoY. Search revenues doubled YoY and several verticals (home decoration, footwear & apparel, automotive) grew >60% YoY; AI advertiser spend grew >100% YoY.
Revenue and Profitability Expansion
Total Q2 revenue rose 8% YoY to RMB 7.9 billion. Gross profit increased ~10% YoY to RMB 3.0 billion and gross margin expanded to 37.2% (from 36.5%), the 16th consecutive quarter of margin improvement. Net profit rose 55% YoY to RMB 339 million; adjusted net profit increased 25% YoY to RMB 704 million with adjusted net profit margin at 8.9%.
Operating Leverage and Margin Progress
Operating profit increased 48% YoY to RMB 373 million; adjusted operating profit rose 21% YoY to RMB 696 million, lifting adjusted operating profit margin to 8.8% (from 7.8%). Management reiterates mid‑to‑long term targets of 40–45% gross margin and ~15–20% operating margin.
Creator and Content Supply Growth
Daily video submissions jumped 28% YoY. Number of creators with >1,000 followers grew 30% YoY. Average creator income increased 21% YoY. Watch time for videos >5 minutes grew 18% YoY; video podcast average daily watch time surpassed 100 million minutes.
Strong Performance Across Content Categories
Watch time rose YoY across hubs: general entertainment +35%, game-related +20%, baby & maternity +36%, music +24% (AIGC catalyzed). Monthly interactions grew 9% YoY to 17.4 billion; long comments (deeper engagement) jumped >67% YoY. Average active user followed 96 creators (+11% YoY); official members reached 299 million with ~80% 12‑month retention.
VAS & Fan Monetization Strength
VAS revenue grew 5% YoY to RMB 3.0 billion and premium members reached 25.7 million (+9% YoY) with ~80% on annual/auto‑renewal. Fan charging revenue grew nearly 50% YoY, supporting creator monetization and retention.
AI Investment Driving Efficiency
Management highlights two AI tailwinds: faster creator output and better content understanding/recommendation. AI‑related capex target of RMB 1 billion is well on track with 70–80% deployed in H1 (primarily server compute). R&D expense rose 16% YoY, largely for AI capability buildout.
Balance Sheet and Shareholder Returns
Cash, equivalents, time deposits and short‑term investments of RMB 24.3 billion (USD 3.6 billion) as of June 30, 2026. Board approved a new 2‑year USD 300 million repurchase program; USD 180 million repurchased YTD and 1.9 million shares (USD 31 million) repurchased under new program as of June 30.
Product Pipeline and Games Roadmap
Multiple game launches upcoming: Lumi Master (global launch Sept 17), a licensed SLG expected in Q4, plus three titles announced (including RO3 and a tactical RPG) to be released next year — management expects gaming revenue to resume YoY growth in Q4 driven by the pipeline.
MX:BILIN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed