Bilibili Inc (NASDAQ:BILI) stock rose 3.75% (As on November 14, 11:25:09 AM UTC-4, Source: Google Finance) after the company posted third-quarter income which surpassed estimates, as an uptick in user engagement powered improved advertising revenues. Adjusted net profit, meanwhile, surged to 786.3 million yuan ($110.5 million), representing an increase of 233% year over year with Bilibili executives highlighting benefits from a drive to carry out “disciplined cost management.” Expenses related to platform operations were “relatively stable”. Adjusted net profit margin was 10.2%, improving from 3.2% in the same period of 2024. Average daily active users (DAUs) were 117.3 million, representing an increase of 9% year over year.

Moreover, Revenues from VAS were RMB3.02 billion (US$424.6 million), representing an increase of 7% from the same period of 2024, mainly attributable to increased revenues from premium memberships and other value-added services. Advertising. Revenues from advertising were RMB2.57 billion (US$361.0 million), representing an increase of 23% from the same period of 2024, mainly attributable to the Company’s improved advertising product offerings and enhanced advertising efficiency. Revenues from mobile games were RMB1.51 billion (US$212.2 million), representing a decrease of 17% from the same period of 2024, mainly attributable to the high prior-year comparison baseline following the successful launch of the Company’s exclusively licensed game, San Guo: Mou Ding Tian Xia. Revenues from IP derivatives and others were RMB582.3 million (US$81.8 million), representing an increase of 3% from the same period of 2024.

Net revenue totaled 7.69 billion yuan ($1.08 billion), versus consensus estimates cited Bloomberg of 7.66 billion yuan. Per share, adjusted earnings for the three months ending in September stood at 1.75 yuan, compared to expectations of 1.49 yuan a piece. Over the first nine months of the year, the number was 3.92 yuan per share, indicating a recovery from a loss of 1.14 yuan in the corresponding timeframe in 2024. Gross profit was RMB2.82 billion (US$395.8 million), representing an increase of 11% from the same period of 2024, mainly attributable to the growth in total net revenues and relatively stable costs related to platform operations, as the Company enhanced its monetization efficiency. Adjusted profit from operations was RMB687.9 million (US$96.6 million), representing an increase of 153% from the same period of 2024. Net cash provided by operating activities was RMB2.02 billion (US$283.2 million), compared with RMB2.23 billion in the same period of 2024. As of September 30, 2025, the Company had cash and cash equivalents, time deposits and short-term investments of RMB23.49 billion (US$3.30 billion).