iQIYI Inc · Q2 2026 earnings

Briefing

iQIYI reported Q2 2026 results with revenue of RMB 6.29 billion, down 5% YoY, and a net loss of RMB 287.5 million.

iQIYI Inc. announced unaudited financial results for the second quarter ended June 30, 2026. Total revenues reached RMB 6.29 billion, a 5% decrease year-over-year, primarily due to declines in membership and advertising revenues partially offset by strong growth in content distribution. The company narrowed its non-GAAP operating loss sequentially but reported a wider GAAP net loss driven by higher income tax expenses; free cash flow turned positive at RMB 319.6 million.

• Total revenues RMB 6.29 billion (-5% YoY), with membership services at RMB 4.01 billion (-2% YoY) and content distribution surging 56% YoY to RMB 681.5 million.
• GAAP operating loss RMB 104.8 million (margin 2%); non-GAAP operating loss narrowed to RMB 30.3 million (0.5% margin).
• Net loss attributable to iQIYI RMB 287.5 million, widened from RMB 133.7 million YoY due to RMB 219.8 million income tax expense including discrete items.
• Free cash flow positive RMB 319.6 million vs. negative RMB 34.1 million YoY; cash position RMB 4.12 billion at quarter end.

Headline financials

Revenue & EPS history

Management highlighted sequential revenue growth, narrowed operating losses, and progress on AI and decentralized ecosystem transformation; no specific numerical guidance provided.