iQIYI Announces Second Quarter 2024 Financial Results BEIJING, CHINA, August 22, 2024 – iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights ● Total revenues were RMB7.4 billion (US$1.0 billion1), decreasing 5% year over year. ● Operating income was RMB342.1 million (US$47.1 million) and operating income margin was 5%, ...

BEIJING, Aug. 22, 2024 (GLOBE NEWSWIRE) -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights Total revenues were RMB7.4 billion (US$1.0 billion1), decreasing 5% year over year.Operating income was RMB342.1 million (US$47.1 million) and operating income margin was 5%, compared to operating income of RMB610.4 million a ...

BEIJING, Aug. 16, 2024 /PRNewswire/ -- On August 14, iQIYI, China's leading online entertainment service, premiered its latest drama series, For The Young Ones, globally on its platform. The series offers a nuanced exploration of widely discussed societal topics, including issues related to minors, and marks the first Chinese drama to feature juvenile prosecutors as main characters.A still from the drama series ‘For The Young Ones’The story follows a dedicated team of juvenile prosecutors as they navigate c ...

Investment Rating - The investment rating for the company is "Buy" with a current price of $3.15 and a reasonable value of $5.62 per ADS [1][2]. Core Views - The report anticipates that the company's revenue for Q2 2024 will be 7.4 billion RMB, representing a year-over-year decline of 5% and a quarter-over-quarter decline of 7%. The Non-GAAP net profit is expected to be 234 million RMB, down 61% year-over-year and 72% quarter-over-quarter, primarily due to underperformance in content playback and competition from other platforms [2][5]. - Membership revenue is projected to be 4.8 billion RMB, down 8% year-over-year and 6% quarter-over-quarter, while advertising revenue is expected to be 1.4 billion RMB, down 4% year-over-year and 3% quarter-over-quarter [3][5]. - The report highlights that the company has a rich content pipeline for Q3, which is expected to drive performance recovery in subsequent quarters [5][8]. Summary by Sections Q2 2024 Performance Outlook - Expected revenue: 74 billion RMB, YoY -5%, QoQ -7% - Non-GAAP net profit: 2.34 billion RMB, YoY -61%, QoQ -72% - Membership revenue: 48 billion RMB, YoY -8%, QoQ -6% - Advertising revenue: 14 billion RMB, YoY -4%, QoQ -3% [2][3][5]. Q3 Content Pipeline - The company has a strong content reserve, with successful shows like "唐朝诡事录之西行" leading to high viewership. Upcoming diverse content is expected to boost performance in the latter half of the year [5][8]. Profit Forecast and Investment Recommendations - Adjusted revenue forecasts for 2024-2025 are 30.9 billion RMB and 33.2 billion RMB, with corresponding growth rates of -3% and 7%. Membership revenue is expected to reach 19 billion RMB and 20.7 billion RMB in 2024-2025, with growth rates of -7% and 9% [8][10]. - The report anticipates Non-GAAP net profits of 27.66 billion RMB and 35.09 billion RMB for 2024 and 2025, respectively, and maintains a "Buy" rating based on a 14x PE valuation for 2024 [10][12].

证券研究报告·海外公司点评·传媒 爱奇艺（IQ） 2024Q2 业绩前瞻：上半年长视频供给竞争较 为激烈，看好公司暑期档及下半年剧集储备 买入（维持） | --- | --- | --- | --- | --- | --- | |----------------------------|-------|----------|-------|-------|---------| | [盈利预测与估值 Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | | | | | | | 同比（%） | -5.1% | 9.9% | 3.4% | 5.9% | 4.7% | | 归母净利润（百万元） | | | | | | | 同比（%） | 97.8% | 1513.6% | 30.1% | 33.9% | 21.5% | | Non-GAAP 净利润（百万元） | 1,284 | 2,838 | 2,908 | 3,755 | 4,474 | | 同比（%） | - | 121.0% | 2.5% | 29.1% | 19.1% | | ...

BEIJING, Aug. 2, 2024 /PRNewswire/ -- On July 28, iQIYI, China's leading online entertainment service, announced that its period detective drama, Strange Tales of Tang Dynasty 2: To the West, surpassed a content popularity index of 10,000, topping multiple summer drama charts. This national hit is part of iQIYI's robust summer lineup, slated to captivate audiences with premium content across genres.“Strange Tales of Tang Dynasty 2: To the West” Drama Series PosterSince premiering, Strange Tales of Tang Dyna ...

BEIJING, Aug. 01, 2024 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced the results of its previously announced repurchase right offer relating to its 4.00% Convertible Senior Notes due 2026 (CUSIP No. 46267XAE8) (the "Notes"). The repurchase right offer expired at 5:00 p.m., New York City time, on Tuesday, July 30, 2024. Based on information from Citibank, N.A. as the paying agent for the Notes, US$39 ...

Q3 有望逆转 Q2 内容颓势 ——24Q2 爱奇艺（IQ.O）前瞻 核心观点 ⚫ 24Q2 预期营收 74 亿(yoy-4.9%, qoq-6.4%)，预期下滑主要系 Q2 头部剧集表现低 于预期。24Q2 毛利率预期达 23.5% (yoy-2.5pp, qoq-5.3pp)；销售及一般行政费用 预期为 9.6 亿（yoy-2.2%，qoq+3.9%）；研发费用预期为 4.5 亿（yoy+1.5%， qoq+3.8%）；GAAP 归母净利润预期为 0.69 亿（yoy-81%，qoq-89%）；NonGAAP 归母净利润预期为 2.6 亿（yoy-56%，qoq-69%）。 ⚫ 24Q2 会员服务收入预期为 45 亿(yoy-8.5%, qoq-5.6%)，同环比预期减少主要是由 于头部项目表现不及预期。我们预期 24Q3 暑期会员收入有所好转， 已上线项目中 《唐朝诡事录》在猫眼数据有效播放量达第一，后续亦有《小夫妻》（7 月 31 日）、《四海重明》（8 月）等待播。 ⚫ 24Q2 广告收入预期为 14 亿(yoy-4%,qoq-3%)，主要系判断品牌广告下滑导致，因 Q2 综艺数量上线表现较好的自制 ...

29 Jul 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update iQIYI (IQ US) Weather short-term headwinds in 2Q24; eyes on 2H24E recovery iQiyi will report 2Q24 results on 22 August. We forecast 2Q24 total revenue to decline by 5% YoY to RMB7.4bn, due to underperformance of certain drama series and a YoY decline in the number of variety shows. We expect non-GAAP operating profit to drop by 36% YoY to RMB503mn on operating deleverage, despite largely flattish content costs a ...

2024 年 7 月 29 日 CMB 国际全球市场 | 股票研究 | 公司更新 爱奇艺 (IQ US) 24 年第二季度的天气短期逆风 ； 关注 2H24E 复苏 爱奇艺将于 8 月 22 日公布第二季度业绩。我们预测 2Q24 总收入将同比下降 5%，至 74 亿 元人民币，这是由于某些剧集的表现不佳以及综艺节目的数量同比下降。我们预计非 GAAP 营业利润将同比下降 36%，至 5.03 亿元人民币，尽管内容成本和营业支出同比基本持平。尽 管如此，我们预计在优质内容管道的推动下，总收入和利润将在下半年逐步恢复。鉴于竞争激 烈且某些内容的表现低于预期，我们将 FY24 - 26E 非 GAAP 净收入预测下调至 2.8 / 3.3 / 40 亿元人民币 （ 前值 ： 3.7 / 4.2 / 45 亿元人民币 ） 。我们的目标价格为 6.40 美元，基于 FY24E 的 16 倍 PE （ 先前 ： 8.6 美元，基于 FY24E 的 16 倍 PE ） 。我们以买入评级转移 超额。 会员业务在第二季度面临压力。我们预计 2Q24E 的会员收入将同比下降 8%，至 45 亿元人 民币，主要原因是某些剧集的表 ...