Bilibili's Ad Revenue Growth Could Top 20% in 2H -- Market Talk

Dow Jones

Aug 25

0910 GMT - Bilibili's advertising revenue growth momentum could top 20% in 2H, Daiwa analyst John Choi says in a research note. Given Bilibili's enhanced AI-driven targeting, still-low ad loads and a maturing user base with increasing spending willingness, its ad business could grow steadily, the analyst says. However, its games business could see pressure in 2H due to a relatively weak pipeline and high base of comparison, he notes. Daiwa estimates Bilibili's 3Q games revenue could decline 16% on year. As Bilibili is showing a favorable revenue-mix shift toward high-margin segments, the company's gross margin and adjusted operating margin could further improve, the analyst adds. Daiwa maintains a buy rating on Bilibili's ADR but trims its target price to US$28.00 from US$30.00 given the weak games pipeline. Shares last ended at US$23.98. (sherry.qin@wsj.com)

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August 25, 2025 05:10 ET (09:10 GMT)

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Given Bilibili's enhanced AI-driven targeting, still-low ad loads and a maturing user base with increasing spending willingness, its ad business could grow steadily, the analyst says. However, its games business could see pressure in 2H due to a relatively weak pipeline and high base of comparison, he notes. Daiwa estimates Bilibili's 3Q games revenue could decline 16% on year. As Bilibili is showing a favorable revenue-mix shift toward high-margin segments, the company's gross margin and adjusted operating margin could further improve, the analyst adds. Daiwa maintains a buy rating on Bilibili's ADR but trims its target price to US$28.00 from US$30.00 given the weak games pipeline. Shares last ended at US$23.98. 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Given Bilibili's enhanced AI-driven targeting, still-low ad loads and a maturing user base with increasing spending willingness, its ad business could grow steadily, the analyst says. However, its games business could see pressure in 2H due to a relatively weak pipeline and high base of comparison, he notes. Daiwa estimates Bilibili's 3Q games revenue could decline 16% on year. As Bilibili is showing a favorable revenue-mix shift toward high-margin segments, the company's gross margin and adjusted operating margin could further improve, the analyst adds. Daiwa maintains a buy rating on Bilibili's ADR but trims its target price to US$28.00 from US$30.00 given the weak games pipeline. Shares last ended at US$23.98. (sherry.qin@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 25, 2025 05:10 ET (09:10 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BILI","symbol_name":"哔哩哔哩","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2562557212","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2562557212","pubTimestamp":1756113000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0910 GMT - Bilibili's advertising revenue growth momentum could top 20% in 2H, Daiwa analyst John Choi says in a research note. Given Bilibili's enhanced AI-driven targeting, still-low ad loads and a maturing user base with increasing spending willingness, its ad business could grow steadily, the analyst says. However, its games business could see pressure in 2H due to a relatively weak pipeline and high base of comparison, he notes. Daiwa estimates Bilibili's 3Q games revenue could decline 16% on year. As Bilibili is showing a favorable revenue-mix shift toward high-margin segments, the company's gross margin and adjusted operating margin could further improve, the analyst adds. Daiwa maintains a buy rating on Bilibili's ADR but trims its target price to US$28.00 from US$30.00 given the weak games pipeline. Shares last ended at US$23.98. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BILI":"哔哩哔哩"},"translate_title":"哔哩哔哩广告收入增速可能在2小时内突破20%——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BILI":1},"content_text":"0910 GMT - Bilibili's advertising revenue growth momentum could top 20% in 2H, Daiwa analyst John Choi says in a research note. Given Bilibili's enhanced AI-driven targeting, still-low ad loads and a maturing user base with increasing spending willingness, its ad business could grow steadily, the analyst says. However, its games business could see pressure in 2H due to a relatively weak pipeline and high base of comparison, he notes. Daiwa estimates Bilibili's 3Q games revenue could decline 16% on year. As Bilibili is showing a favorable revenue-mix shift toward high-margin segments, the company's gross margin and adjusted operating margin could further improve, the analyst adds. Daiwa maintains a buy rating on Bilibili's ADR but trims its target price to US$28.00 from US$30.00 given the weak games pipeline. Shares last ended at US$23.98. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 25, 2025 05:10 ET (09:10 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}