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2021-11-17
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iQIYI's revenues in the third quarter were RMB7.6 billion, with its net loss reaching RMB1.7 billion
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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.</li>\n <li>The number of total subscribing members was 103.6 million as of September 30, 2021, or 103.0 million excluding individuals with trial memberships.</li>\n</ul>\n<p>\"During the third quarter, we experienced significant uncertainty in terms of content scheduling, which resulted in softer than expected top-line performance,\" commented Mr.Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. \"We expect the uncertainty to largely remain, so we are proactively adapting ourselves to the new market environment. We are determined to continue improving the efficiency of our operations as we execute our diversified content strategy. Meanwhile, we are seeing a promising growth trajectory for our new initiatives, such as iQIYI Lite and our overseas business. We will continue to take the lead in rolling out new intelligent production capabilities and driving the industrialization of the long-form video production process, which will help to further optimize our operating efficiency. The experiences we have accumulated from the past decade and the recent temporary challenges will enable us to be more resilient and adaptive to market changes in the long run.\"</p>\n<p>\"Our membership services revenue increased by 8% year-over-year as we experienced subscriber volatility during the third quarter,\" commented Mr.Xiaodong Wang, Chief Financial Officer of iQIYI. \"This was driven by our refined membership strategy and innovative operational initiatives that focused on elevating the user experience. Furthermore, we will continue to improve the efficiency of our operations, and remain cautious with our investments in content. In the long term, we will continue to grow our portfolio with diversified content and develop innovative new products and services with better ROI.\"</p>\n<p><b>Third Quarter 2021 Financial Results</b></p>\n<p>Total revenues reached RMB7.6 billion(US$1.2 billion), representing a 6% increase from the same period in 2020.</p>\n<p>Membership services revenue was RMB4.3 billion(US$665.5 million), representing an 8% increase from the same period in 2020. This was mainly attributable to our refined membership strategy that focused on content diversification and user experience, and improved monetization capabilities.</p>\n<p>Online advertising services revenue was RMB1.7 billion(US$257.7 million), representing a 10% decrease from the same period in 2020, primarily due to less premium content launched during the quarter and challenging macroeconomic environment inChina.</p>\n<p>Content distribution revenue was RMB627.1 million(US$97.3 million), representing a 60% increase from the same period in 2020. The increase was primarily driven by more content titles distributed to other platforms during the quarter.</p>\n<p>Other revenues were RMB1.0 billion(US$157.3 million), representing a 3% increase from the same period in 2020.</p>\n<p>Cost of revenues was RMB7.0 billion(US$1.1 billion), representing a 10% increase from the same period in 2020. The increase in cost of revenues was primarily due to higher content costs during the quarter. Content costs as a component of cost of revenues wereRMB5.3 billion(US$824.5 million), representing a 13% increase from the same period in 2020, primarily due to more investment in original content.</p>\n<p>Selling, general and administrative expenses were RMB1.2 billion(US$193.4 million), representing a 9% decrease from the same period in 2020.</p>\n<p>Research and development expenses were RMB683.0 million(US$106.0 million), representing a 2% increase from the same period in 2020.</p>\n<p>Operating loss was RMB1.4 billion(US$212.3 million), compared to operating loss ofRMB1.2 billionin the same period in 2020. Operating loss margin was 18%, compared to operating loss margin of 17% in the same period in 2020.</p>\n<p>Total other expense was RMB330.5 million(US$51.3 million), compared to total other income ofRMB67.0 millionduring the same period of 2020. The year-over-year variance was mainly due to the fluctuation of exchange rate between Renminbi and theU.S.dollar.</p>\n<p>Loss before income taxes was RMB1.7 billion(US$263.6 million), compared to loss before income taxes ofRMB1.1 billionin the same period in 2020.</p>\n<p>Income tax expense was RMB9.0million (US$1.4 million), compared to income tax expense ofRMB18.8 millionin the same period in 2020.</p>\n<p>Net loss attributable to iQIYI was RMB1.7 billion(US$268.4 million), compared to net loss attributable to iQIYI ofRMB1.2 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB2.17(US$0.34) for the third quarter of 2021, compared to diluted net loss attributable to iQIYI per ADS ofRMB1.61in the same period of 2020.</p>\n<p>As ofSeptember 30, 2021, the Company had cash, cash equivalents, restricted cash and short-term investments ofRMB11.0 billion(US$1.7 billion).</p>\n<p><b>Financial Guidance</b></p>\n<p>For the fourth quarter of 2021, iQIYI 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. 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's revenues in the third quarter were RMB7.6 billion, with its net loss reaching RMB1.7 billion</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's revenues in the third quarter were RMB7.6 billion, with its net loss reaching RMB1.7 billion\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\">2021-11-17 16:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>iQIYI, Inc.(Nasdaq: IQ) today announced its unaudited financial results for the third quarter ended September 30, 2021.</p>\n<p><b>Third Quarter 2021 Highlights</b></p>\n<ul>\n <li>Total revenues were RMB7.6 billion(US$1.2 billion1), representing a 6% increase from the same period in 2020.</li>\n <li>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.</li>\n <li>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.</li>\n <li>The number of total subscribing members was 103.6 million as of September 30, 2021, or 103.0 million excluding individuals with trial memberships.</li>\n</ul>\n<p>\"During the third quarter, we experienced significant uncertainty in terms of content scheduling, which resulted in softer than expected top-line performance,\" commented Mr.Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. \"We expect the uncertainty to largely remain, so we are proactively adapting ourselves to the new market environment. We are determined to continue improving the efficiency of our operations as we execute our diversified content strategy. Meanwhile, we are seeing a promising growth trajectory for our new initiatives, such as iQIYI Lite and our overseas business. We will continue to take the lead in rolling out new intelligent production capabilities and driving the industrialization of the long-form video production process, which will help to further optimize our operating efficiency. The experiences we have accumulated from the past decade and the recent temporary challenges will enable us to be more resilient and adaptive to market changes in the long run.\"</p>\n<p>\"Our membership services revenue increased by 8% year-over-year as we experienced subscriber volatility during the third quarter,\" commented Mr.Xiaodong Wang, Chief Financial Officer of iQIYI. \"This was driven by our refined membership strategy and innovative operational initiatives that focused on elevating the user experience. Furthermore, we will continue to improve the efficiency of our operations, and remain cautious with our investments in content. In the long term, we will continue to grow our portfolio with diversified content and develop innovative new products and services with better ROI.\"</p>\n<p><b>Third Quarter 2021 Financial Results</b></p>\n<p>Total revenues reached RMB7.6 billion(US$1.2 billion), representing a 6% increase from the same period in 2020.</p>\n<p>Membership services revenue was RMB4.3 billion(US$665.5 million), representing an 8% increase from the same period in 2020. This was mainly attributable to our refined membership strategy that focused on content diversification and user experience, and improved monetization capabilities.</p>\n<p>Online advertising services revenue was RMB1.7 billion(US$257.7 million), representing a 10% decrease from the same period in 2020, primarily due to less premium content launched during the quarter and challenging macroeconomic environment inChina.</p>\n<p>Content distribution revenue was RMB627.1 million(US$97.3 million), representing a 60% increase from the same period in 2020. The increase was primarily driven by more content titles distributed to other platforms during the quarter.</p>\n<p>Other revenues were RMB1.0 billion(US$157.3 million), representing a 3% increase from the same period in 2020.</p>\n<p>Cost of revenues was RMB7.0 billion(US$1.1 billion), representing a 10% increase from the same period in 2020. The increase in cost of revenues was primarily due to higher content costs during the quarter. Content costs as a component of cost of revenues wereRMB5.3 billion(US$824.5 million), representing a 13% increase from the same period in 2020, primarily due to more investment in original content.</p>\n<p>Selling, general and administrative expenses were RMB1.2 billion(US$193.4 million), representing a 9% decrease from the same period in 2020.</p>\n<p>Research and development expenses were RMB683.0 million(US$106.0 million), representing a 2% increase from the same period in 2020.</p>\n<p>Operating loss was RMB1.4 billion(US$212.3 million), compared to operating loss ofRMB1.2 billionin the same period in 2020. Operating loss margin was 18%, compared to operating loss margin of 17% in the same period in 2020.</p>\n<p>Total other expense was RMB330.5 million(US$51.3 million), compared to total other income ofRMB67.0 millionduring the same period of 2020. The year-over-year variance was mainly due to the fluctuation of exchange rate between Renminbi and theU.S.dollar.</p>\n<p>Loss before income taxes was RMB1.7 billion(US$263.6 million), compared to loss before income taxes ofRMB1.1 billionin the same period in 2020.</p>\n<p>Income tax expense was RMB9.0million (US$1.4 million), compared to income tax expense ofRMB18.8 millionin the same period in 2020.</p>\n<p>Net loss attributable to iQIYI was RMB1.7 billion(US$268.4 million), compared to net loss attributable to iQIYI ofRMB1.2 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB2.17(US$0.34) for the third quarter of 2021, compared to diluted net loss attributable to iQIYI per ADS ofRMB1.61in the same period of 2020.</p>\n<p>As ofSeptember 30, 2021, the Company had cash, cash equivalents, restricted cash and short-term investments ofRMB11.0 billion(US$1.7 billion).</p>\n<p><b>Financial Guidance</b></p>\n<p>For the fourth quarter of 2021, iQIYI 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. 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":"1132422280","content_text":"iQIYI, Inc.(Nasdaq: IQ) today announced its unaudited financial results for the third quarter ended September 30, 2021.\nThird Quarter 2021 Highlights\n\nTotal revenues were RMB7.6 billion(US$1.2 billion1), representing a 6% increase from the same period in 2020.\nOperating 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.\nNet 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.\nThe number of total subscribing members was 103.6 million as of September 30, 2021, or 103.0 million excluding individuals with trial memberships.\n\n\"During the third quarter, we experienced significant uncertainty in terms of content scheduling, which resulted in softer than expected top-line performance,\" commented Mr.Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. \"We expect the uncertainty to largely remain, so we are proactively adapting ourselves to the new market environment. We are determined to continue improving the efficiency of our operations as we execute our diversified content strategy. Meanwhile, we are seeing a promising growth trajectory for our new initiatives, such as iQIYI Lite and our overseas business. We will continue to take the lead in rolling out new intelligent production capabilities and driving the industrialization of the long-form video production process, which will help to further optimize our operating efficiency. The experiences we have accumulated from the past decade and the recent temporary challenges will enable us to be more resilient and adaptive to market changes in the long run.\"\n\"Our membership services revenue increased by 8% year-over-year as we experienced subscriber volatility during the third quarter,\" commented Mr.Xiaodong Wang, Chief Financial Officer of iQIYI. \"This was driven by our refined membership strategy and innovative operational initiatives that focused on elevating the user experience. Furthermore, we will continue to improve the efficiency of our operations, and remain cautious with our investments in content. In the long term, we will continue to grow our portfolio with diversified content and develop innovative new products and services with better ROI.\"\nThird Quarter 2021 Financial Results\nTotal revenues reached RMB7.6 billion(US$1.2 billion), representing a 6% increase from the same period in 2020.\nMembership services revenue was RMB4.3 billion(US$665.5 million), representing an 8% increase from the same period in 2020. This was mainly attributable to our refined membership strategy that focused on content diversification and user experience, and improved monetization capabilities.\nOnline advertising services revenue was RMB1.7 billion(US$257.7 million), representing a 10% decrease from the same period in 2020, primarily due to less premium content launched during the quarter and challenging macroeconomic environment inChina.\nContent distribution revenue was RMB627.1 million(US$97.3 million), representing a 60% increase from the same period in 2020. The increase was primarily driven by more content titles distributed to other platforms during the quarter.\nOther revenues were RMB1.0 billion(US$157.3 million), representing a 3% increase from the same period in 2020.\nCost of revenues was RMB7.0 billion(US$1.1 billion), representing a 10% increase from the same period in 2020. The increase in cost of revenues was primarily due to higher content costs during the quarter. Content costs as a component of cost of revenues wereRMB5.3 billion(US$824.5 million), representing a 13% increase from the same period in 2020, primarily due to more investment in original content.\nSelling, general and administrative expenses were RMB1.2 billion(US$193.4 million), representing a 9% decrease from the same period in 2020.\nResearch and development expenses were RMB683.0 million(US$106.0 million), representing a 2% increase from the same period in 2020.\nOperating loss was RMB1.4 billion(US$212.3 million), compared to operating loss ofRMB1.2 billionin the same period in 2020. Operating loss margin was 18%, compared to operating loss margin of 17% in the same period in 2020.\nTotal other expense was RMB330.5 million(US$51.3 million), compared to total other income ofRMB67.0 millionduring the same period of 2020. The year-over-year variance was mainly due to the fluctuation of exchange rate between Renminbi and theU.S.dollar.\nLoss before income taxes was RMB1.7 billion(US$263.6 million), compared to loss before income taxes ofRMB1.1 billionin the same period in 2020.\nIncome tax expense was RMB9.0million (US$1.4 million), compared to income tax expense ofRMB18.8 millionin the same period in 2020.\nNet loss attributable to iQIYI was RMB1.7 billion(US$268.4 million), compared to net loss attributable to iQIYI ofRMB1.2 billionin the same period in 2020. Diluted net loss attributable to iQIYI per ADS wasRMB2.17(US$0.34) for the third quarter of 2021, compared to diluted net loss attributable to iQIYI per ADS ofRMB1.61in the same period of 2020.\nAs ofSeptember 30, 2021, the Company had cash, cash equivalents, restricted cash and short-term investments ofRMB11.0 billion(US$1.7 billion).\nFinancial Guidance\nFor the fourth quarter of 2021, iQIYI 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. This forecast reflects iQIYI's current and preliminary view, which may be subject to change.","news_type":1},"isVote":1,"tweetType":1,"viewCount":355,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/878986172"}
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