Major Bank Ratings | Citi: Maintains "Buy" rating on Bilibili with a target price of $27, citing strong advertising growth momentum

Glonghui, April 24｜According to a research report published by a certain exchange, Bilibili's revenue for the first quarter this year is expected to grow by 7% year-on-year to 7.5 billion yuan, with non-GAAP operating profit at 553 million yuan, both roughly in line with market expectations. Among these, the firm forecasts advertising revenue to increase by 26% year-on-year, and there is further upside potential, benefiting from ongoing development of advertising scenarios, AI-driven efficiency improvements, and the rise in user purchasing power. The exchange maintains its target price for Bilibili's US stock at $27 and a "Buy" rating, optimistic that strong advertising growth momentum will drive future profit increases.