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

According to CTOnews.com news on November 22, iqiyi today released its unaudited financial results for the third quarter ended September 30. According to the financial report, iqiyi's total income in the third quarter was 7.5 billion yuan, down 2 percent from the same period last year; the number of members reached 106 million as of September 30, an increase of more than 10 million over June 30; and the quarterly average daily subscription membership was 101 million, a net increase of 2.7 million from the previous quarter.

NON-GAAP 's net profit was 187 million yuan, compared with a net loss of 1.4 billion yuan in the same period last year. Operating profit for the quarter, based on non-non-GAAP financial indicators, was 524 million yuan, up 53% from 344 million yuan in the second quarter, and has achieved operating profit for three consecutive quarters. Gong Yu, founder of iqiyi and CEO, said that through efforts in the first three quarters of this year, iqiyi completed a landmark reversal and the business performance far exceeded the target set at the beginning of the year.

CTOnews.com learned that iqiyi's total income reached 7.5 billion yuan in the third quarter. Of this total, the member service income was 4.2 billion yuan, and the average monthly single member income (ARM) was 13.90 yuan, an increase of 2% over the same period last year. The revenue from online advertising service is 1.2 billion yuan. Iqiyi's content distribution revenue in the current quarter was 730 million yuan, up 16% from the same period last year. Other income was 1.3 billion yuan, an increase of 27% over the same period last year.

In the third quarter, iqiyi's revenue and cost was 5.7 billion yuan, down 19% from the same period last year. As an important part of revenue cost, content cost spent 4.3 billion yuan in the quarter, up 12% from the previous quarter and down 18% from the same period last year, mainly due to the optimization of content strategy and the improvement of operational efficiency.

Financial results for the third quarter:

Total revenue was 7.5 billion yuan ($1.1 billion), down 2% from a year earlier.

Revenue from membership services was 4.2 billion yuan ($591.9 million), down 2% from a year earlier.

Revenue from online advertising services was 1.2 billion yuan ($175.3 million), down 25 per cent from a year earlier.

Content distribution revenue was 729.7 million yuan ($102.6 million), up 16% from a year earlier.

Other revenue was 1.3 billion yuan (180.4 million yuan), up 27% from a year earlier.

Revenue costs were 5.7 billion yuan ($802 million), down 19% from a year earlier.

Sales, general and administrative expenses were 980.3 million yuan ($137.8 million), down 21% from a year earlier.

Spending on R & D was 475.9 million yuan ($66.9 million), down 30 per cent from a year earlier.

The operating profit was 309.7 million yuan ($43.5 million), with an operating profit margin of 4%, compared with an operating loss of 1.4 billion yuan and an operating loss rate of 18% in the same period last year.

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