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Mar 31
iQIYI Q1 2025 Earnings Report
iQIYI reported a profitable first quarter with sequential growth in revenue and operating income.
Key Takeaways
iQIYI delivered a solid Q1 2025 with a net income of $25.1 million and revenues nearing $1 billion, driven by strong performance in micro and long-form dramas.
Revenue reached $990,300,000 despite a 9% year-over-year decline.
Net income was $25,100,000, showing a return to profitability compared to a loss in Q4 2024.
Free cash flow stood at $42,400,000 for the quarter.
Membership and advertising revenues both declined year-over-year, impacted by a lighter content slate and weaker brand ads.
iQIYI
iQIYI
iQIYI Revenue by Segment
iQIYI Revenue by Geographic Location
Revenue by Segment
Membership Services Revenue
CapyFin.comAdvertising Revenue
CapyFin.comContent Distribution Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
China Revenue
CapyFin.com Forward Guidance
Management expressed optimism for sustained sequential improvements in operations and financial flexibility.
Positive Outlook
- Sequential growth in revenue and operating income.
- Strong engagement in micro dramas.
- Long-form content retained market leadership.
- Lower net interest expenses over six consecutive quarters.
- Improved capital structure supports long-term strategy.
Challenges Ahead
- Year-over-year revenue decline of 9%.
- Significant drop in advertising and content distribution revenues.
- Reduced operating and net margins compared to last year.
- Content costs, though reduced, still represent a large expense.
- Membership revenues affected by a lighter content slate.