Bilibili-W's stock surged 5.10% during intraday trading on Tuesday, extending its recent upward momentum. The entertainment streaming service provider has been experiencing significant buying interest following the release of its first-quarter financial results.

The rally was driven by a wave of bullish institutional coverage after Bilibili reported strong Q1 performance. Multiple brokerages maintained positive ratings, with Orient Securities keeping a Buy rating and Guosen Securities maintaining an Outperform rating. The company's Q1 revenue reached RMB 7.47 billion, representing a 7% year-over-year increase, while adjusted net profit surged 62% to RMB 585 million.

Advertising revenue demonstrated particular strength, hitting RMB 2.59 billion and growing 30% for the 13th consecutive quarter of double-digit expansion. Notably, AI-related advertising budgets soared 170%, indicating successful integration of artificial intelligence into the company's advertising platform. Additionally, market sentiment received a boost from reports showing Goldman Sachs' short position in Bilibili decreased from 4.54% to 3.97%, reflecting reduced bearish pressure on the stock.