According to a report from CLSA, Bilibili (BILI.US) 's 1Q25 results met expectations with total revenue rising by 23.6% YoY to RMB7 billion and adjusted EBIT at RMB342 million. The better-than-expected performance in its mobile game revenue offset its weaker-than-expected advertising revenue.As indicated by the report, Bilibili's mobile game revenue surged by 76% YoY on the back of the recent hit game "The Three Kingdoms" and the newly launched "Jujutsu Kaisen Phantom Parade". Meanwhile, strong demand from games and 3C products pushed up the company's advertising revenue by 20% YoY, though the comparison base was higher in the same period last year.Related NewsCLSA Expects BILIBILI-W (09626.HK) 1Q Rev. to Grow 23% YoY, Keeps TP at US$25CLSA cut its target price for Bilibili from USD25 to USD24, with an Outperform rating remaining in place.(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)