iQIYI, Inc.

iQIYI, Inc. Earnings Recaps

IQ Communication Services 3 recaps
Next earnings: August 19, 2026 (estimated) · full calendar
Q1 2026 May 19, 2026

iQIYI shares declined 4.3% following earnings as investors reacted negatively to signs of margin pressure and a cautious outlook despite continued overseas revenue growth.

Key takeaways
  • Overseas membership revenue increased by over 40% year-over-year, supporting new growth engines beyond the core domestic market.
  • Sequential growth in core membership revenue noted, but this was insufficient to offset concerns over margin compression.
  • Management emphasized accelerated content approval and innovation in lower-cost short-form dramas and internet feature films, though these initiatives appear to add complexity to cost structure.
  • The rollout of AI-centered content production platforms and decentralized social media efforts are positioned as long-term investments but contributed to cautious near-term outlook considerations.
  • Initial offline experience ventures, such as iQIYI LAND, delivered promising feedback but represent incremental expenses that may pressure profitability.
Full recap
Q3 2025 Nov 18, 2025

iQIYI delivered a strong performance in Q3 2025, led by the breakout success of its original drama "The Thriving Land," which significantly boosted viewership and revenue across multiple platforms.

Key takeaways
  • Total viewership market share remained at the top, driven by "The Thriving Land" and other original content, securing strong audience engagement.
  • "The Shadow Edge" grossed over RMB 1.2 billion, marking a record in original theatrical releases.
  • The introduction of a novel revenue-sharing model in Q2 contributed RMB 17 million in revenue within two months, enhancing box office returns for lower-performing films.
  • Microdramas achieved double-digit growth in both average daily viewing time and subscription revenue, solidifying their role in the content ecosystem.
  • Collaborative initiatives in AI content creation, including a global short film competition, position iQIYI at the forefront of innovation in the media industry.
Full recap
Q2 2025 Aug 20, 2025

ICE demonstrated strong performance in Q2 2025, dominating total drama viewership and achieving record highs in both subscription and revenue metrics, driven by a robust content lineup and strategic market expansions.

Key takeaways
  • Maintained leadership in core long-form drama category with top viewership for four consecutive quarters.
  • Achieved RMB100 million in GMV from IP-based consumer products, leveraging popular titles for monetization.
  • Record highs in subscription growth and revenue from membership services, with significant expansion in Southeast Asia and North America.
  • Enhanced brand recognition through localized operations and a diverse lineup of premium content, including award-winning dramas.
  • Strong growth in micro dramas, with strategic focus shifting toward original productions to bolster user engagement and revenue.
Full recap