22 Nov 2024 CMB 国际全球市场 | 股票研究 | 公司更新 爱奇艺 (IQ US) 短期逆风持续 ； 战略升级推动长期增长 爱奇艺报告了2024年第三季度财务结果：总收入同比下降10%，达到人民币72亿 元，符合彭博一致预期和我们的估计；非GAAP净收入下降23%，至人民币4.8亿 元，超出彭博一致预期和我们的估计（人民币2.66亿/4.26亿），主要得益于更好 的运营费用控制和外汇收益。展望2024年第四季度，我们预计总收入将同比下降 14%，环比下降8%，主要由于内容供应减少和消费情绪疲软。不过，我们预计2 024年第四季度非GAAP营业利润环比大致持平，为人民币3.68亿元，得益于爱奇 艺谨慎的成本和运营费用控制。该公司将增加迷你剧的投资，同时削减低回报率 内容的投资，我们预计这将帮助爱奇艺抓住新的增长机会并长期提高利润率。我 们将2024年至2026年的总收入预测下调3-4%，以反映相对疲弱的内容表现和宏 观经济不确定性。我们将目标价调整至4.50美元，基于2025年非GAAP每股收益 的15倍市盈率（之前基于15倍2025年非GAAP每股收益的目标价为4.80美元）。 维持买入评级。 ...

iQIYI Announces Third Quarter 2024 Financial Results BEIJING, CHINA, November 21, 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 third quarter ended September 30, 2024. Third Quarter 2024 Highlights ● Total revenues were RMB7.2 billion (US$1.0 billion1), decreasing 10% year over year. ● Operating income was RMB238.9 million (US$34.0 million) and operating income margin was ...

BEIJING, Nov. 21, 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 third quarter ended September 30, 2024. Third Quarter 2024 Highlights Total revenues were RMB7.2 billion (US$1.0 billion1), decreasing 10% year over year.Operating income was RMB238.9 million (US$34.0 million) and operating income margin was 3%, compared to operating income of RMB746.7 milli ...

BEIJING, Nov. 15, 2024 /PRNewswire/ -- On November 12, iQIYI, China's leading online entertainment platform, introduced its Standard VIP Family and Friends membership service in Chinese mainland. This new offering allows Standard VIP members to add a separate account at a discounted price, providing full access to iQIYI's extensive content library and offering an affordable way for families and friends to enjoy premium content together.Under this new offering, Standard VIP members can add an additional acco ...

BEIJING, Oct. 31, 2024 /PRNewswire/ -- iQIYI, China's leading online entertainment platform, premiered Fangs of Fortune in late October, the latest release under 'Love On Theater.' Inspired by The Classic of the Mountains and Seas, an ancient Chinese mythological text, this fantasy period drama unfolds in a rich universe filled with Chinese cultural elements, brought to life through state-of-the-art technologies and virtual production. Classical Chinese Culture and Romance 'Fangs of Fortune' Drama Series Po ...

BEIJING, Oct. 28, 2024 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced that it will report its financial results for the third quarter ended September 30, 2024 before the U.S. market opens on November 21, 2024. iQIYI’s management will hold an earnings conference call at 6:30 AM on November 21, 2024, U.S. Eastern Time (7:30 PM on November 21, 2024, Beijing Time). Please register in advance of the conf ...

23 Oct 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update iQIYI (IQ US) Recovery still takes time We expect iQiyi 3Q24 results (total revenue & operating profit) to be largely inline with our previous expectation in Aug and the consensus estimate. We forecast 3Q24 total revenue to decline by 10% YoY and 3% QoQ to RMB7.2bn, as macro uncertainty weighed on ad budgets and lack of blockbuster content impacted membership revenue growth. We expect 3Q24 non-GAAP net income to ...

BEIJING, Oct. 23, 2024 /PRNewswire/ -- iQIYI, China's leading online entertainment platform, released the season finale of its hit original comedy variety show The King of Stand-up Comedy this week, with Fu Hang winning first place. This season, along with titles like Super Sketch Show, as part of the platform's growing comedy ecosystem, demonstrates iQIYI's ongoing efforts to provide a greater stage for grassroots comedy talent and cultivate the diversified development of the domestic comedy industry and c ...

| --- | --- | --- | --- | --- | |----------------------------------|------------------------|-------------|----------|---------------------| | 交银国际研究 \n公司更新 \n互联网 | 收盘价 | 目标价 | 潜在涨幅 | | | 爱奇艺 | 美元 2.41 (IQ US) | 美元 3.80 | +57.7% | 2024 年 10 月 22 日 | 3 季度预览：会员及品牌广告承压，汇兑收益或带动利润超此前预期 上调3 季度净利润预期：我们基本维持3季度收入/经调整运营利润预期72 亿元/3.5 亿元（人民币，下同），同比降 10%/61%，主要因会员及品牌广 告收入承压。考虑人民币升值带来汇兑收益，我们上调经调整净利润至 4.5 亿元（高于彭博一致预期的 1.2 亿元），对应经调整净利率 6%，同/环 比-2/+3 个百分点。 会员及品牌广告承压：对比 3 季度云合 TOP20 剧集/综艺播放份额，爱奇 艺剧集播放份额 37%，好于上半年表现（20%）；综艺方面 ...

BEIJING, Oct. 10, 2024 /PRNewswire/ -- iQIYI, China's leading online entertainment platform, released its viewership data and content trends for the 2024 National Day Holiday (October 1-7) this week, revealing an 11% sequential increase in total viewing time compared to the pre-holiday period and highlighting a growing appetite for diverse content. Viewers turned to traditional favorites like drama series, films, and animation, while light and entertaining genres such as comedy and variety shows saw excepti ...