iQIYI slid over 4% in premarket trading as its net loss in the third quarter reached RMB1.7 billion

iQIYI slid over 4% in premarket trading as its net loss in the third quarter reached RMB1.7 billion.

In the third quarter, its total revenues were RMB7.6 billion(US$1.2 billion1), representing a 6% increase from the same period in 2020,operating loss was RMB1.4 billion(US$212.3 million) and operating loss margin was 18%, compared to operating loss of RMB1.2 billion and operating loss margin of 17% in the same period in 2020.

Net loss attributable to iQIYI was RMB1.7 billion(US$268.4 million), compared to net loss attributable to iQIYI of RMB1.2 billion in the same period in 2020. Diluted net loss attributable to iQIYI per ADS was RMB2.17(US$0.34), compared to diluted net loss attributable to iQIYI per ADS of RMB1.61 in the same period of 2020.

The number of total subscribing members was 103.6 million as of September 30, 2021, or 103.0 million excluding individuals with trial memberships.

For the fourth quarter of 2021,the company expects total net revenues to be between RMB7.08 billion(US$1.10 billion) andRMB7.53 billion(US$1.17 billion), representing a 5% decrease to 1% increase year over year.