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Dec 31, 2024
iQIYI Q4 2024 Earnings Report
iQIYI reported a decline in revenue and profitability in Q4 2024, primarily due to a lighter content slate and foreign exchange losses.
Key Takeaways
iQIYI's total revenue fell 14% YoY to $906.0M, with operating income declining 63% to $39.1M. The company posted a net loss of $25.9M, primarily due to foreign exchange losses. Membership services revenue dropped 15%, while advertising revenue fell 13%. Despite these declines, iQIYI saw strong subscriber growth at the start of 2025, driven by blockbuster releases.
Total revenue declined 14% YoY to $906.0M.
Operating income dropped 63% YoY to $39.1M.
Net loss of $25.9M due to foreign exchange losses.
Strong subscriber growth at the start of 2025 driven by blockbuster releases.
Revenue by Segment
Forward Guidance
iQIYI expects strong subscriber growth in early 2025, driven by blockbuster releases and increased investment in mini-dramas, which should help bolster ad revenue. However, challenges remain in content strategy and foreign exchange impacts.
Positive Outlook
- Strong subscriber growth at the start of 2025.
- Blockbuster releases driving engagement.
- Increased investment in mini-dramas.
- Improvements in ad-placement efficiency.
- Operational discipline leading to cost efficiencies.
Challenges Ahead
- Declining membership revenue due to a lighter content slate.
- Foreign exchange losses impacting profitability.
- Weak advertising revenue growth.
- Content distribution revenue under pressure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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