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Quarterly report 2025-Q4
added 05-16-2026

iQIYI Income Statement 2025-2011 | IQ

Brief overview of revenue and earnings at iQIYI

The figures are compared over a five-year interval. iQIYI reported revenue of 29.7 billion yuan in 2020 and 27.3 billion yuan by 2025. Overall revenue changed by −8.1%, equal to an annualized rate of about −1.7%. Sales changed only slightly and remained broadly flat.

The five-year change in gross profit reached +215.4%: from 1.8 billion yuan to 5.7 billion yuan. Direct costs grew more slowly than revenue and improved the economics of sales. At the margin level, the figure shifted from 6.1% to 21.1%. A wider margin shows that the economics of the core business improved.

The five-year EBITDA result moved by −96.7%: from 11.2 billion yuan to 368 million yuan. EBITDA lagged revenue, showing weaker operating momentum. At the operating-margin level, the figure shifted from 37.6% to 1.3%. The margin contraction indicates weaker operating efficiency.

The net financial result changed from −7 billion yuan to −206 million yuan. Losses became smaller, but the business remains unprofitable.

What the figures show

The results contain several connected negative signals. The positive side is supported by better sales economics and a stronger final result. Caution is warranted because of pressure on operating profitability, a softer top-line trend and a narrow EBITDA buffer. The key question is whether sales can be converted into sustainable profit.

Annual Income Statement iQIYI

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Market Cap

- - - - - 112 B 115 B 98.4 B - - - - - - -

Shares

- - - - - 5.1 B 5.1 B 5.08 B 343 M 343 M - - - - -

Historical Prices

1.62 4.51 4.18 4.02 4.14 25.3 22.4 27.2 - - - - - - -

Net Income

-206 M 764 M 1.93 B -136 M -6.17 B -7.04 B -10.3 B -9.11 B -3.74 B -3.07 B -2.58 B - - - -

Revenue

27.3 B 29.2 B 31.9 B 29 B 30.6 B 29.7 B 29 B 25 B 17.4 B 11.2 B 5.32 B - - - -

Cost of Revenue

21.5 B 22 B 23.1 B 22.3 B 27.5 B 27.9 B 30.3 B 27.1 B 17.4 B 11.4 B - - - - -

Gross Profit

- - - - - 1.82 B -1.35 B -2.14 B -8.21 M -199 M -723 M - - - -

Operating Income

229 M 1.81 B 2.99 B 1.31 B -4.48 B -6.04 B -9.26 B -8.31 B -3.95 B -2.79 B - - - - -

Interest Expense

44.6 M -89.9 M 1.13 B 715 M 1.35 B 1.07 B 914 M 94.7 M 278 M 110 M - - - - -

EBITDA

368 M 1.96 B 3.26 B 1.65 B -4.08 B 11.2 B 7.91 B 6.67 B -3.6 B -2.48 B 493 M - - - -

Operating Expenses

- - - - - 7.86 B 7.9 B 6.16 B 3.94 B 2.59 B 1.7 B - - - -

General and Administrative Expenses

3.86 B 3.68 B 4.01 B 3.47 B 4.73 B 5.19 B 5.24 B 4.17 B 2.67 B 1.77 B 1.2 B - - - -

All numbers in CNY currency

Quarterly Income Statement iQIYI

2025-Q4 2024-Q4 2024-Q3 2023-Q4 2023-Q3 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

- - - - - - - - - - - - - - - - - - - - - - - - - 343 M - - - 343 M - - - - - - - - - - - - - - - - - - - - - - -

Net Income

-206 M 764 M 953 M 1.93 B 1.46 B - - - - - - - - - - - - - - - - - - - - -3.74 B - - - -3.07 B - - - - - - - - - - - - - - - - - - - - - - -

Revenue

27.3 B 29.2 B 22.6 B 31.9 B 24.2 B - - - - - - - - - - - - - - - - - - - - 17.4 B - - - 11.2 B - - - - - - - - - - - - - - - - - - - - - - -

Cost of Revenue

21.5 B 22 B 17 B 23.1 B 17.6 B - - - - - - - - - - - - - - - - - - - - 17.4 B - - - 11.4 B - - - - - - - - - - - - - - - - - - - - - - -

Operating Income

229 M 1.81 B 1.53 B 2.99 B 2.22 B - - - - - - - - - - - - - - - - - - - - -3.95 B - - - -2.79 B - - - - - - - - - - - - - - - - - - - - - - -

Interest Expense

44.6 M -89.9 M -92.2 M 1.13 B 113 M - - - - - - - - - - - - - - - - - - - - 278 M - - - 110 M - - - - - - - - - - - - - - - - - - - - - - -

EBITDA

368 M 1.96 B 1.64 B 3.26 B 2.43 B - - - - - - - - - - - - - - - - - - - - -3.6 B - - - -2.48 B - - - - - - - - - - - - - - - - - - - - - - -

General and Administrative Expenses

3.86 B 3.68 B 2.8 B 4.01 B 3.07 B - - - - - - - - - - - - - - - - - - - - 2.67 B - - - 1.77 B - - - - - - - - - - - - - - - - - - - - - - -

All numbers in CNY currency

The income statement is one of the three key financial reports of a company iQIYI (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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