iQIYI Q2 2025 total revenue 6.63 billion yuan: Continuous hit content, ongoing investment in AI, micro-dramas, experiences, and overseas business

On August 20, iQIYI (NASDAQ:IQ) released its unaudited second quarter financial report for the period ending June 30, 2025. In the second quarter, iQIYI's total revenue was RMB 6.63 billion. Among them, membership service revenue was RMB 4.09 billion, online advertising service revenue was RMB 1.27 billion, content distribution revenue was RMB 440 million, and other revenue was RMB 830 million. During the quarter, iQIYI's Non-GAAP operating profit was RMB 58.7 million, maintaining Non-GAAP operating profitability for 14 consecutive quarters.

iQIYI's founder and CEO Gong Yu stated, "From the second quarter to the summer season, iQIYI has produced a series of hit content, with a leading market share in the drama cloud sector. At the same time, we are focusing on innovation, investing in key growth areas such as AI applications, micro-dramas, experiential business, and overseas operations, aiming to promote sustainable long-term development and success."

iQIYI's Chief Financial Officer Wang Jun stated, "We effectively manage resources and optimize our capital structure, achieving a decline in net interest expenses for seven consecutive quarters to support long-term value creation."

From the second quarter to the summer season, iQIYI's "long + short" content has frequently produced hits, with the slogan "Good content is always on iQIYI" continuing to occupy users' minds. The content popularity values of the three dramas "Linjiang Xian," "Chao Xue Lu," and "Sheng Wan Wu" have all exceeded 10,000, further consolidating iQIYI's leading advantage in the female and realistic themes sector. The content popularity values of "Wu You Du" and "Shu Juan Yi Meng" have both surpassed 9,500, continuously receiving high popularity and acclaim; other genres have also produced excellent works, with "Jue Mi Jiao Liang" and the mystery drama "Wu Yun Zhi Shang" and "Jie Ming Er Sheng" receiving enthusiastic responses from users.

In the second quarter, iQIYI's self-produced quality micro-dramas achieved significant breakthroughs, launching several popular works such as "Zhi Ai Nan Tiao," "Cheng He Ti Tong," and "Zhang Shang Zhu." Among them, iQIYI's first IP-adapted micro-drama "Cheng He Ti Tong" reached a content popularity peak of over 5,500, setting a new record for micro-dramas on the platform. As of now, iQIYI has a content reserve of approximately 15,000 micro-dramas.

During the quarter, iQIYI's total costs were RMB 5.29 billion, a year-on-year decrease of 7%. As a major component of costs, content costs were RMB 3.78 billion. Selling and administrative expenses and R&D expenses for the quarter were RMB 960 million and RMB 420 million, respectively.

In the second quarter, under Non-GAAP standards, iQIYI's operating profit was RMB 58.7 million, and the net profit attributable to iQIYI was RMB 14.7 million As of June 30, 2025, iQIYI's cash balance (including cash, cash equivalents, short-term restricted funds, short-term investments, and long-term restricted funds in prepaid and other assets) totaled 5.06 billion yuan