IQIYI Posts Loss In Q4; Total Revenues Down 14%

(RTTNews) - iQIYI (IQ) posted a fourth quarter net loss attributable to iQIYI of RMB 189.4 million compared to net income of RMB 466.2 million in the same period in 2023. Net loss per ADS was RMB 0.20, compared to profit of RMB 0.48. Non-GAAP net loss attributable to iQIYI was RMB 58.8 million, compared to net income of RMB 682.0 million, prior year. Non-GAAP net loss per ADS was RMB 0.06 compared to profit of RMB 0.70.

Total revenues were RMB 6.61 billion, down 14% year over year. Membership services revenue was RMB 4.10 billion, down 15% year over year, primarily due to a lighter content slate.

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