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Jun 30
iQIYI Q2 2025 Earnings Report
Reported a swing to net loss amid an 11% revenue decline in Q2 2025.
Key Takeaways
iQIYI experienced a challenging quarter, posting a net loss of $18.7M and a 1% operating loss margin, largely due to a lighter content slate and weaker ad demand. Revenue fell across most segments, with content distribution down sharply. Free cash flow turned negative for the quarter.
Revenue declined 11% YoY to $925.3M, primarily due to lighter content and weaker advertising.
Net loss reached $18.7M, compared to net income of $9.6M a year ago.
Free cash flow dropped to -$4.8M versus $53.4M in Q2 2024.
Non-GAAP EPS fell sharply to $0.02, down from $0.25 in Q2 2024.
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
No formal quantitative guidance provided, but the company is focusing on long-term innovation and structural efficiency.
Positive Outlook
- Continued top market share in total drama viewership
- Growing investments in AI and micro dramas
- Declining net interest expenses for seven straight quarters
- Efficient capital structure management
- Focus on long-term global expansion initiatives
Challenges Ahead
- 11% decline in revenue YoY
- Ad revenues under pressure due to macroeconomic environment
- Operating income swung to a loss
- Free cash flow turned negative
- Lighter content slate impacted subscription and engagement