China's iQIYI Q1 revenue falls, hurt by lighter content slate

IQIYI

18/05/2026 10:14

Overview

China online video platform's Q1 revenue fell 13% yr/yr

Company posted net and adjusted net losses versus profits a year ago

Company launched US$100 mln share buyback and repurchased convertible notes

Outlook

Company says it is leveraging AI to reduce content production costs and accelerate production cycles

Company says overseas business is sustaining robust growth momentum

Result Drivers

LIGHTER CONTENT SLATE - Co said membership services revenue fell 5% yr/yr due to a lighter content slate

ADVERTISER PULLBACK - Online advertising revenue fell 7% yr/yr as some advertisers adjusted strategies in response to macro pressures

CONTENT DISTRIBUTION DROP - Content distribution revenue declined 43% yr/yr, mainly due to fewer barter transactions

Company press release: ID:nGNX33n8CZ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
RMB 6.23 bln
Q1 Adjusted Net Income
-RMB 234.40 mln
Q1 Net Income
-RMB 294.60 mln
Q1 Adjusted Operating Income
-RMB 148.60 mln
Q1 Operating Income
-RMB 228.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for iQIYI Inc is $1.81, about 56% above its May 15 closing price of $1.16

The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 24 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)