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

According to CTOnews.com news on February 22, iqiyi released its unaudited fourth-quarter and full-year results for the year ended December 31, 2022. According to the financial report, iqiyi's total revenue was 29 billion yuan in 2022 and 7.6 billion yuan in the fourth quarter. In 2022, iqiyi's operating profit based on financial indicators of non-American general accounting standards (hereinafter referred to as non-GAAP) was 2.2 billion yuan, with an operating profit margin of 7%, of which non-GAAP operating profit in the fourth quarter was 979 million yuan, four consecutive quarters of operating profit, achieving full-year operating profit for the first time.

As of December 31, 2022, the number of iqiyi members has risen to 120 million.

Gong Yu, founder and CEO of iqiyi, said: "in the fourth quarter, according to Yunhe data, iqiyi's show market share reached an all-time high. during the same period, our member revenue, operating profit, operating cash flow and free cash flow all broke historical records. in addition, the number of subscription members increased by more than 10 million in the fourth quarter."

"in the fourth quarter, iqiyi set a record in many dimensions. operating profit margin increased for five consecutive quarters, and operating cash flow was positive for three consecutive quarters." Wang Jun, chief financial officer of iqiyi, said, "in the past 12 months, we have completed three rounds of financing to eliminate debt pressure. With a healthier balance sheet and positive cash inflow capacity, management will be able to focus more on promoting the company's high-quality growth in the coming years."

CTOnews.com summarizes the financial report data as follows:

In the fourth quarter of 2022, iqiyi's revenue from membership services totaled 4.7 billion yuan, up 15 percent from the same period last year. The annual revenue from membership services was 17.7 billion yuan, an increase of 6% over the same period last year.

In the fourth quarter, iqiyi had an average daily subscription of 112 million members, a net increase of 10.6 million over the previous quarter, with an ARM of 14.17 yuan.

The revenue of the online advertising business reached 1.6 billion yuan in the fourth quarter, up 25% from the previous quarter. The annual online advertising revenue is 5.3 billion yuan.

In addition, iqiyi achieved 635 million yuan in revenue from content distribution in the fourth quarter, with a total revenue of 2.5 billion yuan for the whole year.

In the fourth quarter, other income reached 661 million yuan, and the annual other income reached 3.5 billion yuan.

In the fourth quarter, iqiyi's revenue and cost was 5.4 billion yuan, down 17% from the same period last year. The revenue and cost for the whole year totaled 22.3 billion yuan, down 19% from the same period last year. Among them, the content cost in the fourth quarter was 3.9 billion yuan, down 19% from the same period last year. The annual content cost in 2022 is 16.5 billion yuan.

The financial report shows that iqiyi non-GAAP 's operating profit in the fourth quarter was 979 million yuan, a substantial increase compared with 524 million yuan in the previous quarter. The operating profit of non-GAAP for the whole year of 2022 is 2.2 billion yuan, and the operating profit margin of non-GAAP is 7%. In 2021, the operating loss of non-GAAP was 3 billion yuan, and the operating loss rate of non-GAAP was 10%.

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