iQIYI (IQ) Financial Statements & Analysis

iQIYI (IQ) Income Statement

iQIYI reported revenue of CNY 27.29B in fiscal 2025 (fiscal year ended Dec 31, 2025), down 6.6% from CNY 29.23B a year earlier. iQIYI posted a net loss of CNY 206.31M, compared with net income of CNY 764.06M a year earlier. Gross margin was 21.1% and operating margin 0.8%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 6.29B, down 5.1% from the same quarter a year earlier.

iQIYI Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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iQIYI, Inc. income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	27.29	29.23	31.87	29.00	30.55	29.71	28.99	24.99	17.38
Cost of Revenue	21.54	21.95	23.10	22.32	27.51	27.06	30.35	27.13	17.39
Gross Profit	5.75	7.27	8.77	6.68	3.04	2.64	-1.35	-2.14	-0.01
Operating Expenses
Research & Development	1.66	1.78	1.77	1.90	2.79	2.68	2.67	1.99	1.27
Selling, General & Administrative	3.86	3.68	4.01	3.47	4.73	5.19	5.24	4.17	2.67
Operating Expenses	5.52	5.46	5.78	5.37	7.52	7.86	7.90	6.16	3.94
Operating Income	0.23	1.81	2.99	1.31	-4.48	-5.22	-9.26	-8.31	-3.95
Other Income/Expense
Interest Income	0.33	0.29	0.21	0.07	0.12	0.16	0.40	0.21	0.08
Interest Expense	0.91	-1.06	-1.13	0.72	1.35	-1.07	0.91	0.09	0.28
Other Income/Expense	0.29	-0.96	-0.96	-0.70	-0.30	0.11	-0.97	-0.68	0.21
Income
Income Before Tax	-0.06	0.85	2.03	-0.03	-6.01	-6.98	-10.22	-8.98	-3.74
Income Tax Expense	0.14	0.06	0.08	0.08	0.10	0.02	0.05	0.08	-0.01
Net Income	-0.21	0.76	1.93	-0.14	-6.17	-7.05	-10.28	-9.11	-3.74
Net Income - Continuous Operations	-0.20	0.79	1.93	-0.12	-6.11	-7.01	-10.28	-9.11	-3.74
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	14.11	9.54	10.53	14.34	12.10	7.04	7.86	6.27	4.90
EBIT	0.85	1.81	2.99	0.68	-4.66	-5.22	-	-	-
Depreciation & Amortization	13.26	7.73	7.54	13.66	16.77	12.26	17.17	14.98	8.77
Earnings Per Share
Basic EPS	-	1.00	2.00	-	-8.00	-10.00	-14.00	-17.00	1.00
Diluted EPS	-	1.00	2.00	-	-8.00	-10.00	-14.00	-17.00	1.00
Basic Shares Outstanding	0.96	0.96	0.95	0.86	0.80	0.74	0.73	0.54	0.73
Diluted Shares Outstanding	0.96	0.97	0.97	0.86	0.80	0.74	0.73	0.55	0.73

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About iQIYI Financial Statements

What was iQIYI's revenue in fiscal 2025?

iQIYI reported revenue of CNY 27.29B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 6.6% from CNY 29.23B a year earlier.

Is iQIYI profitable?

No. iQIYI reported a net loss of CNY 206.31M in fiscal 2025. In fiscal 2024 it earned CNY 764.06M.

What is iQIYI's operating margin?

iQIYI's operating income was CNY 229.31M on revenue of CNY 27.29B in fiscal 2025, an operating margin of 0.8%, compared with 6.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition