iQIYI Announces Third Quarter 2025 Financial Results

Core Insights - iQIYI reported a decrease in total revenues for Q3 2025, amounting to RMB6.68 billion (US$938.7 million), which is an 8% decline year over year [6][7] - The company experienced significant net losses, with a net loss attributable to iQIYI of RMB248.9 million (US$35.0 million) compared to a net income of RMB229.4 million in the same period of 2024 [13][14] - iQIYI's leadership in the domestic market remains strong, holding the top position in total drama viewership market share for Q3 2025 [3] Financial Performance - Total revenues for Q3 2025 were RMB6.68 billion (US$938.7 million), down 8% from RMB7.25 billion in Q3 2024 [4][6] - Membership services revenue decreased by 4% year over year to RMB4.21 billion (US$591.7 million) due to a lighter content slate [7] - Online advertising services revenue fell by 7% year over year to RMB1.24 billion (US$174.3 million) [8] - Content distribution revenue decreased by 21% year over year to RMB644.5 million (US$90.5 million) [9] - Other revenues also saw a decline of 20% year over year, totaling RMB585.0 million (US$82.2 million) [10] Operating Results - The operating loss for Q3 2025 was RMB121.8 million (US$17.1 million), compared to an operating income of RMB238.9 million in Q3 2024 [11] - Non-GAAP operating loss was RMB21.9 million (US$3.1 million), a significant drop from a non-GAAP operating income of RMB368.6 million in the same period last year [11] - The company reported a total other expense of RMB85.1 million (US$12.0 million), compared to total other income of RMB8.4 million in Q3 2024 [12] Cash Flow and Assets - Net cash used for operating activities was RMB267.6 million (US$37.6 million), contrasting with net cash provided by operating activities of RMB242.5 million in Q3 2024 [15] - As of September 30, 2025, the company had cash and cash equivalents totaling RMB4.88 billion (US$686.0 million) [16] Strategic Initiatives - iQIYI is focusing on expanding its IP-centric ecosystem, moving from online to offline and growing its presence in overseas markets [3] - The company is leveraging AI technology to enhance content creation and consumption [3]