iQIYI, Inc., a leading provider of online entertainment video services in China, announced its financial results for the second quarter ending June 30, 2025. The company reported total revenues of RMB6.63 billion (US$925.3 million), representing an 11% decrease year over year. The operating loss for the quarter was RMB46.2 million (US$6.4 million), a notable decline compared to the operating income of RMB342.1 million in the same period in 2024. The non-GAAP operating income was RMB58.7 million (US$8.2 million), down from RMB501.4 million a year earlier. Net loss attributable to iQIYI was RMB133.7 million (US$18.7 million), contrasting with a net income of RMB68.7 million in the same period in 2024. The non-GAAP net income was RMB14.7 million (US$2.0 million), a significant drop from RMB246.9 million in the previous year. The non-GAAP diluted net income per ADS was RMB0.02, compared to RMB0.25 in the same period of 2024. The company used RMB12.7 million (US$1.8 million) in net cash for operating activities, compared to net cash provided by operating activities of RMB410.8 million in the previous year. Free cash flow was negative at RMB34.1 million (US$4.8 million), compared to positive free cash flow of RMB382.5 million in the same period of 2024. As of June 30, 2025, iQIYI held RMB5.06 billion (US$705.7 million) in cash, cash equivalents, restricted cash, short-term investments, and long-term restricted cash. In terms of business operations, iQIYI maintained its position as a leader in drama viewership during the second quarter and into the summer season. The company is focusing on innovation and investing in growth areas such as AI applications, micro dramas, experience business, and global expansion to drive long-term success.
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