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2021-05-18
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iQIYI Total revenues RMB 8.0 billion Q1,beat estimates
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Diluted net loss attributable to iQIYI per ADS wasRMB1.61(US$0.25), compared to diluted net loss attributable to iQIYI per ADS ofRMB3.92in the same period of 2020.</li><li>The number of total subscribing members was 105.3 million as ofMarch 31, 2021and 104.3 million excluding individuals with trial memberships.</li></ul><p>The shares of iQIYI rose more than 4% in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/ed879845f134d3aed5aa207a674b74b0\" tg-width=\"909\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p>\"We kicked off the year with a solid quarter across the board\" commented Dr.Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. \"We had 3.6 million more subscribing members in the first quarter and our membership services revenue grew by 12% quarter-over-quarter, recording the peak level in terms of absolute dollar amount over the past year. The notable growth was largely a result of our strong content launch across various of categories including dramas, variety shows and films during the quarter. Specifically, the drama titled<i>My heroic Husband</i>set up another milestone in terms of both viewership and monetization efficiency, validating our exclusive content strategy. OnApril 22, we celebrated our 11-year anniversary. We are confident that we will further strengthen our leadership through the know-hows we learned from years of fierce competition. We strongly believe the irreplaceability of long-form video as an entertainment format and we are well prepared for future opportunities and challenges.\"</p><p>\"Our total revenue in the first quarter has exceeded our previous guidance, recording healthy growth on both quarter-over-quarter and year-over-year basis.\" commented Mr.Xiaodong Wang, Chief Financial Officer of iQIYI. \"In the first quarter, we delivered multiple well-received content titles. Meanwhile, driven by the improved investment efficiency, our content cost continued to decline on a year-over-year basis for the third consecutive quarter. As always, we are committed to pursuing ROI-driven approach across different aspects of business, including content, technology and marketing and more. This positions us on the right track for the eventual self-sustained status.\"</p><p>Footnotes:</p><p>[1] Unless otherwise noted, all translations from RMB toU.S.dollars are made at a rate ofRMB6.5518toUS$1.00, the exchange rate in effect as ofMarch 31, 2021as set forth in the H.10 statistical release of theBoard of Governorsof theFederal Reserve System. Translations are provided solely for the convenience of the reader.</p><p><b>First Quarter 2021 Financial Results</b></p><p>Total revenues reachedRMB8.0 billion(US$1.2 billion), representing a 4% increase from the same period in 2020.</p><p>Membership services revenue wasRMB4.3 billion(US$658.1 million), representing a 7% decrease from the same period in 2020. The decrease was primarily due to the decline of our subscribing members from 118.9 million as ofMarch 31, 2020, which was a high base due to the impact of Covid-19, to 105.3 million as ofMarch 31, 2021. Our subscribing members grew 3.6 million quarter-on-quarter due to the strong content launch coupled with the holidays in the first quarter, during which people spent more time viewing content.</p><p>Online advertising services revenue wasRMB1.9 billion(US$292.5 million), representing a 25% increase from the same period in 2020. The increase was primarily driven by the rebound of both brand-advertising budgets and the number of brand advertisers amid the macroeconomy recovery.</p><p>Content distribution revenue wasRMB779.1 million(US$118.9 million), representing a 29% increase from the same period in 2020. The increase was primarily driven by more content titles we distributed to other platforms during the quarter.</p><p>Other revenues wereRMB961.0 million(US$146.7 million), representing a 10% increase from the same period in 2020, primarily due to the growth of certain business lines.</p><p>Cost of revenues wasRMB7.1 billion(US$1.1 billion), representing a 10% decrease from the same period in 2020. The decrease in cost of revenues was primarily due to less content costs and bandwidth cost during the quarter. Content costs as a component of cost of revenues wereRMB5.4 billion(US$829.6 million), representing an 8% decrease from the same period in 2020. The decrease was primarily attributable to decline of licensed content cost.</p><p>Selling, general and administrative expenses wereRMB1.2 billion(US$183.3 million), representing an 8% decrease from the same period in 2020. This was primarily attribute to less provision for credit losses, which was a result of improved macroeconomic environment versus the same period last year.</p><p>Research and development expenses wereRMB672.3 million(US$102.6 million), representing a 1% decrease from the same period in 2020.</p><p>Operating loss wasRMB1.0 billion(US$154.8 million), compared to operating loss ofRMB2.2 billionin the same period in 2020. Operating loss margin was 13%, compared to operating loss margin of 29% in the same period in 2020.</p><p>Total other expense wasRMB222.4 million(US$34.0 million), compared to total other expense ofRMB628.5 millionduring the same period of 2020. The year-over-year variance was mainly due to less foreign exchange loss.</p><p>Loss before income taxes wasRMB1.2 billion(US$188.7 million), compared to loss before income taxes ofRMB2.9 billionin the same period in 2020.</p><p>Income tax expense wasRMB20.6million (US$3.1 million), compared to income tax expense ofRMB4.8 millionin the same period in 2020.</p><p>Net loss attributable to iQIYI wasRMB1.3 billion(US$193.4 million), compared to net loss attributable to iQIYI ofRMB2.9 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB1.61(US$0.25) for the first quarter of 2021, compared to diluted net loss attributable to iQIYI per ADS ofRMB3.92in the same period of 2020.</p><p>As ofMarch 31, 2021, the Company had cash, cash equivalents, restricted cash and short-term investments ofRMB13.3 billion(US$2.0 billion).</p><p><b>Financial Guidance</b></p><p>For the second quarter of 2021, iQIYI expects total net revenues to be betweenRMB7.21 billion(US$1.10 billion) andRMB7.65 billion(US$1.17 billion), representing a 3% decrease to a 3% increase year over year. This forecast reflects iQIYI's current and preliminary view, which may be subject to change.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>iQIYI Total revenues RMB 8.0 billion Q1,beat estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\niQIYI Total revenues RMB 8.0 billion Q1,beat estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-18 17:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p> iQIYI, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.</p><p><b>First Quarter 2021 Highlights</b></p><ul><li>Total revenues were RMB 8.0 billion (US$1.2 billion[1]), representing a 4% increase from the same period in 2020.</li><li>Operating loss was RMB1.0 billion(US$154.8 million) and operating loss margin was 13%, compared to operating loss ofRMB2.2 billionand operating loss margin of 29% in the same period in 2020.</li><li>Net loss attributable to iQIYI wasRMB1.3 billion(US$193.4 million), compared to net loss attributable to iQIYI ofRMB2.9 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB1.61(US$0.25), compared to diluted net loss attributable to iQIYI per ADS ofRMB3.92in the same period of 2020.</li><li>The number of total subscribing members was 105.3 million as ofMarch 31, 2021and 104.3 million excluding individuals with trial memberships.</li></ul><p>The shares of iQIYI rose more than 4% in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/ed879845f134d3aed5aa207a674b74b0\" tg-width=\"909\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p>\"We kicked off the year with a solid quarter across the board\" commented Dr.Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. \"We had 3.6 million more subscribing members in the first quarter and our membership services revenue grew by 12% quarter-over-quarter, recording the peak level in terms of absolute dollar amount over the past year. The notable growth was largely a result of our strong content launch across various of categories including dramas, variety shows and films during the quarter. Specifically, the drama titled<i>My heroic Husband</i>set up another milestone in terms of both viewership and monetization efficiency, validating our exclusive content strategy. OnApril 22, we celebrated our 11-year anniversary. We are confident that we will further strengthen our leadership through the know-hows we learned from years of fierce competition. We strongly believe the irreplaceability of long-form video as an entertainment format and we are well prepared for future opportunities and challenges.\"</p><p>\"Our total revenue in the first quarter has exceeded our previous guidance, recording healthy growth on both quarter-over-quarter and year-over-year basis.\" commented Mr.Xiaodong Wang, Chief Financial Officer of iQIYI. \"In the first quarter, we delivered multiple well-received content titles. Meanwhile, driven by the improved investment efficiency, our content cost continued to decline on a year-over-year basis for the third consecutive quarter. As always, we are committed to pursuing ROI-driven approach across different aspects of business, including content, technology and marketing and more. This positions us on the right track for the eventual self-sustained status.\"</p><p>Footnotes:</p><p>[1] Unless otherwise noted, all translations from RMB toU.S.dollars are made at a rate ofRMB6.5518toUS$1.00, the exchange rate in effect as ofMarch 31, 2021as set forth in the H.10 statistical release of theBoard of Governorsof theFederal Reserve System. Translations are provided solely for the convenience of the reader.</p><p><b>First Quarter 2021 Financial Results</b></p><p>Total revenues reachedRMB8.0 billion(US$1.2 billion), representing a 4% increase from the same period in 2020.</p><p>Membership services revenue wasRMB4.3 billion(US$658.1 million), representing a 7% decrease from the same period in 2020. The decrease was primarily due to the decline of our subscribing members from 118.9 million as ofMarch 31, 2020, which was a high base due to the impact of Covid-19, to 105.3 million as ofMarch 31, 2021. Our subscribing members grew 3.6 million quarter-on-quarter due to the strong content launch coupled with the holidays in the first quarter, during which people spent more time viewing content.</p><p>Online advertising services revenue wasRMB1.9 billion(US$292.5 million), representing a 25% increase from the same period in 2020. The increase was primarily driven by the rebound of both brand-advertising budgets and the number of brand advertisers amid the macroeconomy recovery.</p><p>Content distribution revenue wasRMB779.1 million(US$118.9 million), representing a 29% increase from the same period in 2020. The increase was primarily driven by more content titles we distributed to other platforms during the quarter.</p><p>Other revenues wereRMB961.0 million(US$146.7 million), representing a 10% increase from the same period in 2020, primarily due to the growth of certain business lines.</p><p>Cost of revenues wasRMB7.1 billion(US$1.1 billion), representing a 10% decrease from the same period in 2020. The decrease in cost of revenues was primarily due to less content costs and bandwidth cost during the quarter. Content costs as a component of cost of revenues wereRMB5.4 billion(US$829.6 million), representing an 8% decrease from the same period in 2020. The decrease was primarily attributable to decline of licensed content cost.</p><p>Selling, general and administrative expenses wereRMB1.2 billion(US$183.3 million), representing an 8% decrease from the same period in 2020. This was primarily attribute to less provision for credit losses, which was a result of improved macroeconomic environment versus the same period last year.</p><p>Research and development expenses wereRMB672.3 million(US$102.6 million), representing a 1% decrease from the same period in 2020.</p><p>Operating loss wasRMB1.0 billion(US$154.8 million), compared to operating loss ofRMB2.2 billionin the same period in 2020. Operating loss margin was 13%, compared to operating loss margin of 29% in the same period in 2020.</p><p>Total other expense wasRMB222.4 million(US$34.0 million), compared to total other expense ofRMB628.5 millionduring the same period of 2020. The year-over-year variance was mainly due to less foreign exchange loss.</p><p>Loss before income taxes wasRMB1.2 billion(US$188.7 million), compared to loss before income taxes ofRMB2.9 billionin the same period in 2020.</p><p>Income tax expense wasRMB20.6million (US$3.1 million), compared to income tax expense ofRMB4.8 millionin the same period in 2020.</p><p>Net loss attributable to iQIYI wasRMB1.3 billion(US$193.4 million), compared to net loss attributable to iQIYI ofRMB2.9 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB1.61(US$0.25) for the first quarter of 2021, compared to diluted net loss attributable to iQIYI per ADS ofRMB3.92in the same period of 2020.</p><p>As ofMarch 31, 2021, the Company had cash, cash equivalents, restricted cash and short-term investments ofRMB13.3 billion(US$2.0 billion).</p><p><b>Financial Guidance</b></p><p>For the second quarter of 2021, iQIYI expects total net revenues to be betweenRMB7.21 billion(US$1.10 billion) andRMB7.65 billion(US$1.17 billion), representing a 3% decrease to a 3% increase year over year. This forecast reflects iQIYI's current and preliminary view, which may be subject to change.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IQ":"爱奇艺"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198641058","content_text":"iQIYI, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.First Quarter 2021 HighlightsTotal revenues were RMB 8.0 billion (US$1.2 billion[1]), representing a 4% increase from the same period in 2020.Operating loss was RMB1.0 billion(US$154.8 million) and operating loss margin was 13%, compared to operating loss ofRMB2.2 billionand operating loss margin of 29% in the same period in 2020.Net loss attributable to iQIYI wasRMB1.3 billion(US$193.4 million), compared to net loss attributable to iQIYI ofRMB2.9 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB1.61(US$0.25), compared to diluted net loss attributable to iQIYI per ADS ofRMB3.92in the same period of 2020.The number of total subscribing members was 105.3 million as ofMarch 31, 2021and 104.3 million excluding individuals with trial memberships.The shares of iQIYI rose more than 4% in premarket trading.\"We kicked off the year with a solid quarter across the board\" commented Dr.Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. \"We had 3.6 million more subscribing members in the first quarter and our membership services revenue grew by 12% quarter-over-quarter, recording the peak level in terms of absolute dollar amount over the past year. The notable growth was largely a result of our strong content launch across various of categories including dramas, variety shows and films during the quarter. Specifically, the drama titledMy heroic Husbandset up another milestone in terms of both viewership and monetization efficiency, validating our exclusive content strategy. OnApril 22, we celebrated our 11-year anniversary. We are confident that we will further strengthen our leadership through the know-hows we learned from years of fierce competition. We strongly believe the irreplaceability of long-form video as an entertainment format and we are well prepared for future opportunities and challenges.\"\"Our total revenue in the first quarter has exceeded our previous guidance, recording healthy growth on both quarter-over-quarter and year-over-year basis.\" commented Mr.Xiaodong Wang, Chief Financial Officer of iQIYI. \"In the first quarter, we delivered multiple well-received content titles. Meanwhile, driven by the improved investment efficiency, our content cost continued to decline on a year-over-year basis for the third consecutive quarter. As always, we are committed to pursuing ROI-driven approach across different aspects of business, including content, technology and marketing and more. This positions us on the right track for the eventual self-sustained status.\"Footnotes:[1] Unless otherwise noted, all translations from RMB toU.S.dollars are made at a rate ofRMB6.5518toUS$1.00, the exchange rate in effect as ofMarch 31, 2021as set forth in the H.10 statistical release of theBoard of Governorsof theFederal Reserve System. Translations are provided solely for the convenience of the reader.First Quarter 2021 Financial ResultsTotal revenues reachedRMB8.0 billion(US$1.2 billion), representing a 4% increase from the same period in 2020.Membership services revenue wasRMB4.3 billion(US$658.1 million), representing a 7% decrease from the same period in 2020. The decrease was primarily due to the decline of our subscribing members from 118.9 million as ofMarch 31, 2020, which was a high base due to the impact of Covid-19, to 105.3 million as ofMarch 31, 2021. Our subscribing members grew 3.6 million quarter-on-quarter due to the strong content launch coupled with the holidays in the first quarter, during which people spent more time viewing content.Online advertising services revenue wasRMB1.9 billion(US$292.5 million), representing a 25% increase from the same period in 2020. The increase was primarily driven by the rebound of both brand-advertising budgets and the number of brand advertisers amid the macroeconomy recovery.Content distribution revenue wasRMB779.1 million(US$118.9 million), representing a 29% increase from the same period in 2020. The increase was primarily driven by more content titles we distributed to other platforms during the quarter.Other revenues wereRMB961.0 million(US$146.7 million), representing a 10% increase from the same period in 2020, primarily due to the growth of certain business lines.Cost of revenues wasRMB7.1 billion(US$1.1 billion), representing a 10% decrease from the same period in 2020. The decrease in cost of revenues was primarily due to less content costs and bandwidth cost during the quarter. Content costs as a component of cost of revenues wereRMB5.4 billion(US$829.6 million), representing an 8% decrease from the same period in 2020. The decrease was primarily attributable to decline of licensed content cost.Selling, general and administrative expenses wereRMB1.2 billion(US$183.3 million), representing an 8% decrease from the same period in 2020. This was primarily attribute to less provision for credit losses, which was a result of improved macroeconomic environment versus the same period last year.Research and development expenses wereRMB672.3 million(US$102.6 million), representing a 1% decrease from the same period in 2020.Operating loss wasRMB1.0 billion(US$154.8 million), compared to operating loss ofRMB2.2 billionin the same period in 2020. Operating loss margin was 13%, compared to operating loss margin of 29% in the same period in 2020.Total other expense wasRMB222.4 million(US$34.0 million), compared to total other expense ofRMB628.5 millionduring the same period of 2020. The year-over-year variance was mainly due to less foreign exchange loss.Loss before income taxes wasRMB1.2 billion(US$188.7 million), compared to loss before income taxes ofRMB2.9 billionin the same period in 2020.Income tax expense wasRMB20.6million (US$3.1 million), compared to income tax expense ofRMB4.8 millionin the same period in 2020.Net loss attributable to iQIYI wasRMB1.3 billion(US$193.4 million), compared to net loss attributable to iQIYI ofRMB2.9 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB1.61(US$0.25) for the first quarter of 2021, compared to diluted net loss attributable to iQIYI per ADS ofRMB3.92in the same period of 2020.As ofMarch 31, 2021, the Company had cash, cash equivalents, restricted cash and short-term investments ofRMB13.3 billion(US$2.0 billion).Financial GuidanceFor the second quarter of 2021, iQIYI expects total net revenues to be betweenRMB7.21 billion(US$1.10 billion) andRMB7.65 billion(US$1.17 billion), representing a 3% decrease to a 3% increase year over year. This forecast reflects iQIYI's current and preliminary view, which may be subject to change.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":14,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/194044133"}
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