iQiyi Inc. released its unaudited financial results for the fourth quarter and full year ended December 31, 2025. Full-year total revenue reached 27.29 billion yuan, with a Non-GAAP operating profit of 640 million yuan, marking the fourth consecutive year of operating profitability. In the fourth quarter, total revenue was 6.79 billion yuan, achieving both year-on-year and sequential growth. The Non-GAAP operating profit for the quarter stood at 140 million yuan.

iQiyi's Founder and CEO, Gong Yu, stated, "In the fourth quarter, our IP-centric strategy strengthened user engagement and solidified our market leadership, driving improved financial performance and resulting in dual growth in total revenue. As we move into 2026, we will reinforce our core domestic business by enhancing content quality and strengthening our membership and advertising services. We will also accelerate breakthroughs in our international and experiential businesses. Leveraging AI, we aim to build a dynamic content ecosystem and enrich it further with AIGC-generated content."

The company's acting CFO, Zeng Ying, commented, "We are cultivating new growth engines through emerging businesses. Our international operations maintained strong momentum, with Q4 revenue reaching a new high. Furthermore, the recent grand opening of the first iQiyi Land theme park received positive feedback, representing a significant milestone for our experiential business. We anticipate these emerging ventures will create long-term value for the company."

During the fourth quarter, iQiyi delivered a strong slate of series, films, and variety shows. The series "Strange Tales of Tang Dynasty: Chang'an" achieved a content popularity score exceeding 10,000 and made breakthroughs in serialized content development. The iQiyi-produced theatrical film "Shadow Chase" ranked first in movie content popularity for the quarter and became the highest-rated domestic action-crime film on Douban in the past decade. The variety show "Hello Farming Youth 3" set a new popularity record for the franchise, while the new original production "Universe Blink Notice" demonstrated hit potential with a content popularity score surpassing 8,300.

Content performance remained robust at the start of 2026, with new growth engines poised for launch. The police procedural drama "Punishment Crime 2" achieved a content popularity score over 10,000. On February 8, the inaugural iQiyi Land theme park officially opened in Yangzhou to an enthusiastic public response.

For the full year 2025, iQiyi's total revenue was 27.29 billion yuan, comprising membership services revenue of 16.81 billion yuan, online advertising services revenue of 5.19 billion yuan, content distribution revenue of 2.50 billion yuan, and other revenue of 2.79 billion yuan. Fourth-quarter total revenue was 6.79 billion yuan, broken down into membership services revenue of 4.11 billion yuan, online advertising services revenue of 1.35 billion yuan, content distribution revenue of 790 million yuan, and other revenue of 550 million yuan.

Full-year total costs were 21.54 billion yuan, with content costs, a major component, amounting to 15.45 billion yuan. In the fourth quarter, total costs were 5.38 billion yuan, including content costs of 3.83 billion yuan. iQiyi achieved an operating profit for the fourth consecutive year. The full-year 2025 Non-GAAP operating profit was 640 million yuan, with the fourth quarter contributing a Non-GAAP operating profit of 140 million yuan.