Buyback ProgramThe new $200m buyback should also help cushion downside risks, but could indicate limited growth opportunities.
Heavy Investment PhaseThe heavy investment phase is largely completed, with expense growth expected to continue trailing revenue, backed by improved ad tech stack and advertiser penetration.
Market ExpectationsAnalysts expect Bilibili to report in-line results amid robust game and ad businesses, reinforcing confidence in its operational performance but suggesting limited upside potential.