iQIYI Reports Non-GAAP EPADS of -$0.02, Revenue of $938.7M Exceeds Expectations by $16.61M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 18 2025
0mins
Should l Buy IQ?
Source: SeekingAlpha
Earnings Performance: iQIYI reported a Q3 Non-GAAP EPADS of -$0.02, aligning with expectations, while revenue was $938.7 million, an 8% year-over-year decline but exceeding estimates by $16.61 million.
Membership and Advertising Revenue: Membership services revenue decreased by 4% year-over-year to RMB4.21 billion (US$591.7 million), and online advertising services revenue fell by 7% to RMB1.24 billion (US$174.3 million).
Cash Flow Situation: The company experienced a net cash outflow from operating activities of RMB267.6 million (US$37.6 million), contrasting with a net cash inflow of RMB242.5 million in the same period of 2024.
Free Cash Flow Decline: iQIYI's free cash flow was negative RMB290.3 million (negative US$40.8 million), a significant drop from a positive free cash flow of RMB234.8 million in the same period of 2024.
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Analyst Views on IQ
Wall Street analysts forecast IQ stock price to rise
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 1.830
Low
2.10
Averages
2.38
High
2.65
Current: 1.830
Low
2.10
Averages
2.38
High
2.65
About IQ
iQIYI Inc is a holding company principally engaged in providing online entertainment video services. The Company's products and services include online video, online games, online literature, animations and others. The video content include professionally produced content, licensed content and other video content. The iQIYI Lite app offers users an easy and quick access to the personalized videos based on user preferences. The Company mainly conducts its business in the domestic market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
iQIYI Announces Convertible Note Repurchase Rights
- Repurchase Notification: iQIYI has announced it will notify holders of its 6.50% convertible senior notes of their right to require the company to repurchase the notes for cash on March 16, 2026, indicating a focus on debt management.
- Repurchase Amount Limitations: Holders can elect to repurchase all or part of their notes in integral multiples of $200,000, which may attract more investor participation due to this flexibility.
- Repurchase Timeline: The repurchase election period opens at 9:00 a.m. on February 10, 2026, and closes at 5:00 p.m. on March 12, 2026, providing investors ample time to make decisions.
- Strategic Implications: The establishment of this repurchase right not only aids in optimizing the capital structure but also has the potential to enhance investor confidence, further driving the company's growth strategy in global markets.
See More
iQIYI Announces Convertible Notes Repurchase Right
- Repurchase Right Notification: iQIYI has announced that holders can require the repurchase of its 6.50% Convertible Senior Notes for cash before March 16, 2026, at amounts that are integral multiples of $200,000, indicating the company's focus on debt management.
- Repurchase Amount Overview: As of February 9, 2026, there is $208.059 million in outstanding convertible notes, and if all are repurchased, the total cash outlay will match this amount, potentially impacting the company's liquidity.
- Repurchase Procedure Details: Holders must follow the procedures outlined in the company's Repurchase Right Notice to submit their requests by March 12, 2026, reflecting the company's commitment to transparency and compliance.
- Interest Payment Arrangement: The repurchase price will include accrued interest up to March 1, 2026, ensuring holders receive fair returns upon repurchase, thereby enhancing investor confidence in the company.
See More
iQIYI Launches First Offline Theme Park in Yangzhou
- Theme Park Opening: On February 8, iQIYI officially opened iQIYI LAND in Yangzhou, marking a significant milestone in its strategy to integrate technology with creativity, which is expected to drive long-term growth for the company.
- Immersive Experience: Covering approximately 10,000 square meters, the park features a compact indoor design that leverages immersive technologies like VR and AI across seven core experience zones, enhancing user engagement and extending IP lifecycles.
- Star Interactions: During the opening ceremony, leading cast members from popular dramas engaged with visitors in themed areas, successfully transforming screen narratives into interactive experiences and attracting the first guests from across China, thereby enhancing brand influence.
- Future Development Plans: The successful launch of iQIYI LAND lays the groundwork for future parks in Kaifeng and Beijing, aiming to further expand the cultural tourism market in China by blending local culture with storytelling.
See More
iQIYI International Unveils 2025 Global Trending Content with 114.5% Year-on-Year Viewership Growth
- Viewership Surge: iQIYI International achieved a remarkable 114.5% year-on-year increase in global views in 2025, driven by strong demand for Chinese content and Thai dramas, highlighting its appeal and potential in international markets.
- Dramatic Success: In 2025, nine out of the top ten Chinese series were self-produced by iQIYI, with 'The Best Thing' successfully integrating traditional Chinese medicine into a modern narrative, reflecting the platform's strategic advantage in content innovation.
- Animation and Film Breakthrough: Chinese animation had a breakout year in 2025, with eight of the top ten titles featuring fantasy-adventure themes, while the 'Ne Zha' franchise claimed the top three spots on the Chinese-language movie charts, showcasing the global allure of Chinese mythology.
- Localized Strategies: iQIYI International launched localized and dubbed content tailored to regional preferences, with Southeast Asian audiences favoring localized offerings and North American viewers enjoying a diverse selection, demonstrating its flexible market adaptability.
See More
iQIYI CFO Jun Wang Resigns, SVP Ying Zeng Appointed Interim CFO
- Executive Change: iQIYI's CFO Jun Wang has resigned effective immediately due to personal reasons, indicating potential challenges in executive stability that may impact investor confidence.
- Interim Appointment: Senior Vice President of Finance Ying Zeng has been appointed as the interim CFO, ensuring financial management stability during the transition period, which is expected to have a short-term impact on operations.
- Transition Support: Jun Wang will continue as an advisor until May 31, 2026, facilitating a smooth transition and helping to mitigate uncertainties associated with executive turnover.
- Future Recruitment: iQIYI will conduct an executive search for the CFO position, reflecting the company's emphasis on future financial leadership, which could influence its long-term strategic direction.
See More
iQIYI CFO Jun Wang Resigns, Strengthening Financial Leadership with Ying Zeng
- Executive Transition: iQIYI's CFO Jun Wang has resigned effective immediately due to personal reasons, highlighting challenges in executive stability while providing an opportunity for Interim CFO Ying Zeng to demonstrate her capabilities.
- Interim CFO Appointment: Ying Zeng has been appointed as the Interim CFO, and her experience with the company's IPO and financing initiatives will help maintain financial stability and ensure operational continuity during the transition period.
- Transition Arrangements: Jun Wang will continue as an advisor until May 31, 2026, ensuring a smooth transition, which helps mitigate uncertainties associated with executive changes and maintain investor confidence.
- Leadership Confidence: CEO Yu Gong expressed gratitude for Jun Wang's contributions and emphasized that Ying Zeng's addition will provide crucial support for the company's future development, reflecting the company's commitment to continuous innovation and value creation.
See More
iQIYI Announces Convertible Note Repurchase Rights
- Repurchase Notification: iQIYI has announced it will notify holders of its 6.50% convertible senior notes of their right to require the company to repurchase the notes for cash on March 16, 2026, indicating a focus on debt management.
- Repurchase Amount Limitations: Holders can elect to repurchase all or part of their notes in integral multiples of $200,000, which may attract more investor participation due to this flexibility.
- Repurchase Timeline: The repurchase election period opens at 9:00 a.m. on February 10, 2026, and closes at 5:00 p.m. on March 12, 2026, providing investors ample time to make decisions.
- Strategic Implications: The establishment of this repurchase right not only aids in optimizing the capital structure but also has the potential to enhance investor confidence, further driving the company's growth strategy in global markets.
See More
iQIYI Announces Convertible Notes Repurchase Right
- Repurchase Right Notification: iQIYI has announced that holders can require the repurchase of its 6.50% Convertible Senior Notes for cash before March 16, 2026, at amounts that are integral multiples of $200,000, indicating the company's focus on debt management.
- Repurchase Amount Overview: As of February 9, 2026, there is $208.059 million in outstanding convertible notes, and if all are repurchased, the total cash outlay will match this amount, potentially impacting the company's liquidity.
- Repurchase Procedure Details: Holders must follow the procedures outlined in the company's Repurchase Right Notice to submit their requests by March 12, 2026, reflecting the company's commitment to transparency and compliance.
- Interest Payment Arrangement: The repurchase price will include accrued interest up to March 1, 2026, ensuring holders receive fair returns upon repurchase, thereby enhancing investor confidence in the company.
See More
iQIYI Launches First Offline Theme Park in Yangzhou
- Theme Park Opening: On February 8, iQIYI officially opened iQIYI LAND in Yangzhou, marking a significant milestone in its strategy to integrate technology with creativity, which is expected to drive long-term growth for the company.
- Immersive Experience: Covering approximately 10,000 square meters, the park features a compact indoor design that leverages immersive technologies like VR and AI across seven core experience zones, enhancing user engagement and extending IP lifecycles.
- Star Interactions: During the opening ceremony, leading cast members from popular dramas engaged with visitors in themed areas, successfully transforming screen narratives into interactive experiences and attracting the first guests from across China, thereby enhancing brand influence.
- Future Development Plans: The successful launch of iQIYI LAND lays the groundwork for future parks in Kaifeng and Beijing, aiming to further expand the cultural tourism market in China by blending local culture with storytelling.
See More
iQIYI International Unveils 2025 Global Trending Content with 114.5% Year-on-Year Viewership Growth
- Viewership Surge: iQIYI International achieved a remarkable 114.5% year-on-year increase in global views in 2025, driven by strong demand for Chinese content and Thai dramas, highlighting its appeal and potential in international markets.
- Dramatic Success: In 2025, nine out of the top ten Chinese series were self-produced by iQIYI, with 'The Best Thing' successfully integrating traditional Chinese medicine into a modern narrative, reflecting the platform's strategic advantage in content innovation.
- Animation and Film Breakthrough: Chinese animation had a breakout year in 2025, with eight of the top ten titles featuring fantasy-adventure themes, while the 'Ne Zha' franchise claimed the top three spots on the Chinese-language movie charts, showcasing the global allure of Chinese mythology.
- Localized Strategies: iQIYI International launched localized and dubbed content tailored to regional preferences, with Southeast Asian audiences favoring localized offerings and North American viewers enjoying a diverse selection, demonstrating its flexible market adaptability.
See More
iQIYI CFO Jun Wang Resigns, SVP Ying Zeng Appointed Interim CFO
- Executive Change: iQIYI's CFO Jun Wang has resigned effective immediately due to personal reasons, indicating potential challenges in executive stability that may impact investor confidence.
- Interim Appointment: Senior Vice President of Finance Ying Zeng has been appointed as the interim CFO, ensuring financial management stability during the transition period, which is expected to have a short-term impact on operations.
- Transition Support: Jun Wang will continue as an advisor until May 31, 2026, facilitating a smooth transition and helping to mitigate uncertainties associated with executive turnover.
- Future Recruitment: iQIYI will conduct an executive search for the CFO position, reflecting the company's emphasis on future financial leadership, which could influence its long-term strategic direction.
See More
iQIYI CFO Jun Wang Resigns, Strengthening Financial Leadership with Ying Zeng
- Executive Transition: iQIYI's CFO Jun Wang has resigned effective immediately due to personal reasons, highlighting challenges in executive stability while providing an opportunity for Interim CFO Ying Zeng to demonstrate her capabilities.
- Interim CFO Appointment: Ying Zeng has been appointed as the Interim CFO, and her experience with the company's IPO and financing initiatives will help maintain financial stability and ensure operational continuity during the transition period.
- Transition Arrangements: Jun Wang will continue as an advisor until May 31, 2026, ensuring a smooth transition, which helps mitigate uncertainties associated with executive changes and maintain investor confidence.
- Leadership Confidence: CEO Yu Gong expressed gratitude for Jun Wang's contributions and emphasized that Ying Zeng's addition will provide crucial support for the company's future development, reflecting the company's commitment to continuous innovation and value creation.
See More
