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

CTOnews.com May 16 news, today iqiyi released unaudited financial results for the first quarter ended March 31, 2023. According to the financial report, iqiyi's revenue in the first quarter was 8.3 billion yuan, an increase of 15% over the same period last year, and the market expects 7.984 billion yuan.

In the first quarter of 2023, iqiyi's total revenue was 8.3 billion yuan, up 15% from the same period last year. Among them, the revenue of member services was 5.5 billion yuan, an increase of 24% over the same period last year. Online advertising revenue in the first quarter was 1.4 billion yuan, an increase of 5% over the same period last year, mainly due to the growth of effective advertising. The revenue of content distribution and other revenue in the current quarter was 727 million yuan and 670 million yuan respectively.

Iqiyi's average daily subscription membership increased to 129 million in the first quarter from 101 million in the same period last year, with a net increase of more than 10 million for two consecutive quarters. As of March 31, iqiyi had 120 million subscribers, compared with 101 million on the same day last year. In the quarter, iqiyi's average monthly single member income (ARM) was 14. 35 yuan, an increase from the previous quarter.

In the first quarter, iqiyi's revenue and cost was 6 billion yuan, the same as the same period last year. As the main component of revenue cost, content cost was 4.2 billion yuan, down 5% from the same period last year. The quarterly sales and management expenses and R & D expenses were 1.1 billion yuan and 428 million yuan respectively.

CTOnews.com noted that iqiyi's operating profit has increased for six consecutive quarters. The operating profit in the first quarter was 859 million yuan, with an operating profit margin of 10%, compared with 93.4 million yuan in the same period last year. In the current quarter, Non-GAAP 's operating profit was 1 billion yuan, and Non-GAAP 's operating profit margin was 12%, compared with 327 million yuan for Non-GAAP and 4% for Non-GAAP in the same period last year.

The net profit attributed to iqiyi in the first quarter was 618 million yuan, compared with 169 million yuan in the same period last year. The net profit of Non-GAAP attributed to iqiyi was 940 million yuan, while that of Non-GAAP attributed to iqiyi was 162 million yuan in the same period in 2022.

"We got off to a good start in the first quarter. It once again verified iqiyi's strong ability to create original content, promoted financial performance and market share to reach new highs, and the average number of daily subscription members in a single quarter increased by more than 17 million." Gong Yu, founder and chief executive of iqiyi, said, "this shows that iqiyi's high-quality growth strategy has paid off."

Iqiyi set a new record in the first quarter, with both total revenue and member service revenue setting the best performance in history. our operating profit has increased for six consecutive quarters, and our operating cash flow has increased for four consecutive quarters. " Wang Jun, chief financial officer of iqiyi, said, "iqiyi's financial performance has continued to improve, with improvements in profitability, cash flow and balance sheet health. Iqiyi will continue to strive to create more value for investors and partners."

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