Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen kkkkkkkkkayd for the clue delivery! CTOnews.com August 30 news, iqiyi today released unaudited second-quarter financial results as of June 30. According to the financial report, iqiyi's total revenue in the second quarter was 6.7 billion yuan, of which member service revenue was 4.3 billion yuan, an increase of 7 percent over the same period last year. It achieved an operating profit of 344 million yuan based on non-American general accounting standards (non-GAAP) financial indicators, an increase of 5% over the previous month, and achieved operating profit for two consecutive quarters.

CTOnews.com learned that iqiyi's total revenue reached 6.7 billion yuan in the second quarter of 2022. Of this total, revenue from membership services totaled 4.3 billion yuan, up 7% from the same period last year, which officials said was mainly due to the fact that a variety of high-quality content enhanced the user experience and led to the growth of monthly average single member income (ARM). In the second quarter, iqiyi's monthly ARM was 14.53 yuan, up 8 percent from 13.42 yuan in the same period last year. Revenue from online advertising, content distribution and other services in the second quarter was 1.2 billion yuan, 479 million yuan and 698 million yuan, respectively.

In terms of cost, the revenue cost of Q2 iqiyi in 2022 was 5.2 billion yuan, down 24% from the same period last year. The cost of content spent 3.9 billion yuan in the quarter, down 24% from the same period last year. The reduction of content cost benefits from the optimization of content strategy and the improvement of operational efficiency. Overall operating expenses fell 31% year-on-year in the quarter. Under Non-GAAP standards, iqiyi made an operating profit of 344 million yuan and an operating profit margin of 5% in the second quarter. In the same period last year, the operating loss was 779 million yuan, with an operating loss rate of 10%. Operating profit increased by 5% in the second quarter compared with the previous quarter.

"Baidu's revenue in the second quarter was 29.6 billion yuan, down 5% from a year earlier."

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