The earnings call reflected a generally positive outlook with strong revenue growth in both overall and membership services, as well as significant expansion in the content ecosystem and international revenue. However, there are challenges in advertising revenue and increased costs, along with limitations in overseas business growth due to financial constraints.

Company Guidance -

Q1 2025

During iQIYI's first quarter 2025 earnings call, the company reported a 9% sequential increase in total revenue, reaching RMB7.2 billion. Membership services revenue grew by 7% to RMB4.4 billion, while advertising revenue decreased by 7% to RMB1.3 billion due to macroeconomic pressures and seasonality. Content cost rose by 10% to RMB3.8 billion, reflecting the launch of more premium dramas. The company highlighted its strategic focus on enhancing its content ecosystem, particularly through long-form and micro dramas, and leveraging AI to improve user experience. They also noted the promising growth in their overseas markets, with a 30% year-over-year revenue increase, although the contribution to total revenue remains relatively low. Looking forward, iQIYI aims to continue investing in content and user acquisition to drive future growth.

Sequential Revenue Growth

Total revenues for the first quarter of 2025 were RMB7.2 billion, up 9% sequentially.

Strong Performance in Membership Services

Membership services revenue increased by 7% sequentially to RMB4.4 billion, driven by the success of long-form dramas.

Content Ecosystem Expansion

iQIYI expanded its micro drama portfolio to over 15,000 titles, seeing impressive growth in daily viewing time and unique visitors, with increases over 300% and 110% respectively.

International Revenue Growth

Revenues from regions outside of Mainland China increased by over 30% year-over-year, reaching a new high in the average daily number of subscribing members.

Debt Reduction and Financial Management

The outstanding principal balance of convertible bonds declined from RMB2.9 billion in Q1 2023 to RMB1.17 billion, resulting in a 30% reduction in net interest expense year-over-year.

Iqiyi (IQ) Earnings, Revenues Date & History

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IQ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 20, 2025	2025 (Q2)	-0.02 / -	0.25	―	―	―
May 21, 2025	2025 (Q1)	0.04 / 0.04	0.121	-64.37% (-0.08)	―
Feb 18, 2025	2024 (Q4)	>-0.01 / >-0.01	0.097	-108.57% (-0.11)	―
Nov 21, 2024	2024 (Q3)	0.05 / 0.07	0.089	-21.88% (-0.02)	―
Aug 22, 2024	2024 (Q2)	0.03 / 0.03	0.085	-59.02% (-0.05)	―
May 16, 2024	2024 (Q1)	0.08 / 0.12	0.135	-10.31% (-0.01)	―
Feb 28, 2024	2023 (Q4)	0.09 / 0.10	0.136	-28.57% (-0.04)	―
Nov 21, 2023	2023 (Q3)	0.09 / 0.09	0.029	204.76% (+0.06)	―
Aug 22, 2023	2023 (Q2)	0.07 / 0.08	0.014	510.00% (+0.07)	―
May 16, 2023	2023 (Q1)	0.08 / 0.13	0.029	361.90% (+0.11)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

IQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 21, 2025	$1.86	$1.71	-8.06%
Feb 18, 2025	$2.54	$2.30	-9.45%
Nov 21, 2024	$2.18	$2.02	-7.34%
Aug 22, 2024	$3.08	$2.60	-15.58%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.