iQIYI Q4 Revenue Rises 3% to RMB6.79 Billion as Operating Income Collapses
iQIYI reported Q4 2025 revenues of RMB6.79 billion, up 3% year-on-year, while operating income plunged to RMB55.4 million from RMB285.4 million in Q4 2024. Full-year 2025 revenue declined 7% to RMB27.29 billion, resulting in a RMB206.3 million net loss, offset partially by growth in overseas operations and experience business segments.
1. Fourth-Quarter Financial Results
iQIYI’s fourth-quarter 2025 revenue reached RMB6.79 billion, a 3% year-on-year increase, while operating income declined to RMB55.4 million from RMB285.4 million in Q4 2024.
2. Full-Year Performance
For the full year 2025, iQIYI’s revenue fell 7% to RMB27.29 billion, reflecting weaker advertiser demand and a lighter content slate. Net loss for the year was RMB206.3 million versus net income of RMB764.1 million in 2024.
3. Emerging Business Growth
Despite overall declines, iQIYI’s overseas operations and experience business segments reported growth during Q4, demonstrating potential diversification of revenue streams. Management highlighted these areas as key drivers for future profitability.