iQIYI Sees 13% Revenue Drop to RMB6.23 Billion, EPS Beats Forecast
iQIYI reported Q1 revenues of RMB6.23 billion, slightly above estimates, but down 13% year-over-year, with EPS of –RMB0.03 beating forecasts by RMB0.01. The streaming service swung to an operating loss of RMB228.4 million and net loss of RMB294.6 million, leaving a negative P/E of –36.94 and a current ratio of 0.47.
1. Quarterly Revenue and EPS
iQIYI generated RMB6.23 billion in Q1 revenue, down 13% year-over-year, and delivered EPS of –RMB0.03, outperforming consensus by RMB0.01.
2. Operating and Net Loss
The company recorded an operating loss of RMB228.4 million compared with operating income of RMB341.9 million in Q1 2025, resulting in a net loss of RMB294.6 million versus a net profit of RMB182.1 million a year earlier.
3. Balance Sheet Metrics
With a negative price-to-earnings ratio of –36.94, debt-to-equity at 1.17 and a current ratio of 0.47, iQIYI faces liquidity challenges and elevated leverage in a competitive streaming market.