Chinese video-sharing platform and developer Bilibili has released its financial results for the fourth quarter and fiscal year ended December 31, 2024, showing significant revenue growth and a milestone in profitability.
Total net revenues reached RMB7.73 billion (US$1,059.6 million) in Q4, marking a 22% year-over-year increase, while full-year revenues totaled RMB26.83 billion (US$3,675.9 million), up 19%.
Key Highlights:
Advertising revenues saw robust growth, rising 24% year-over-year in Q4 to RMB2.39 billion (US$327.2 million) and 28% for the full year to RMB8.19 billion (US$1,121.9 million). Meanwhile, mobile game revenues surged 79% in Q4 to RMB1.80 billion (US$246.3 million) and 40% for the year to RMB5.61 billion (US$768.6 million).
Notably, Bilibili achieved a net profit of RMB88.9 million (US$12.2 million) in Q4, a sharp turnaround from the RMB1.30 billion net loss in the same period last year. For the full year, net loss narrowed by 72% to RMB1.36 billion (US$186.8 million).
The platform’s user engagement remained strong, with average daily active users (DAUs) reaching 103.0 million in Q4, up from 100.1 million in the previous year.
“We closed 2024 on a strong note, achieving our first quarter of GAAP profitability—a milestone reflecting the value of our community and our relentless effort to enhance our commercialization efficiency,” said Rui Chen, chairman and chief executive officer of Bilibili. “In the fourth quarter, our DAUs and MAUs reached 103 million and 340 million, respectively, with users spending an average of 99 minutes daily on our platform. Throughout the year, we advanced our commercialization strategy and improved our products to meet users’ evolving content and consumption needs.”
Sam Fan, chief financial officer of Bilibili, highlighted the company’s revenue and profit growth, stating, “Strong growth in our high-margin advertising and mobile games businesses drove total net revenues up by 22% year over year in the fourth quarter. Gross profit surged by 68% year-over-year in the fourth quarter, leading to a 10 percentage-point increase in our gross profit margin to 36.1%. Meanwhile, we generated RMB6.01 billion in operating cash flow for the full year 2024.”
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