BEIJING, China, Feb. 28, 2024 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Highlights Total revenues were RMB7.7 billion (US$1.1 billion1), increasing 1% year over year.Operating income was RMB773.7 million (US$109.0 million) and operating income margin was 10%, compared to operating ...

Investment Rating - The report maintains a "Buy" rating for iQiyi (IQ) with a target price of $7.52 per ADS [4] Core Views - iQiyi's Q4 2023 revenue is expected to reach RMB 7.672 billion, up 1% YoY but down 4% QoQ [2] - Q4 2023 gross margin is projected at 28%, down 1pct YoY but up 1pct QoQ [2] - Operating profit for Q4 2023 is estimated at RMB 754 million, with an operating margin of 10% [2] - Adjusted operating profit is forecasted at RMB 903 million, representing a 12% margin [2] - Net profit for Q4 2023 is expected to be RMB 445 million, with adjusted net profit at RMB 657 million, down 23% YoY but up 6% QoQ [2] Membership Business - Q4 2023 membership revenue is projected at RMB 4.798 billion, flat YoY and down 4% QoQ [2] - Average Revenue per Membership (ARM) is expected to reach RMB 15.9, up 12% YoY and 2% QoQ [2] - Membership revenue is forecasted to grow 15% in 2023 and 5% in 2024 [10] Advertising Business - Q4 2023 advertising revenue is estimated at RMB 1.641 billion, up 6% YoY [2] - Advertising revenue is expected to grow 17% in 2023 and 4% in 2024 [10] Content Strategy - iQiyi continues to focus on self-produced content, with a structural shift towards top-tier content [2] - Content cost is projected to account for 51% of revenue in 2023 and 50% in 2024 [10] Financial Projections - 2023 revenue is forecasted at RMB 31.838 billion, up 10% YoY, with 2024 revenue expected to reach RMB 33.305 billion, up 5% YoY [10] - Non-GAAP net profit is projected at RMB 2.813 billion in 2023 and RMB 3.448 billion in 2024 [10] - The company is valued at 15x 2024 PE, implying a fair value of $7.52 per ADS [10] Industry Comparison - Compared to Netflix and Disney, iQiyi's valuation is relatively lower, with a 2024 PE of 15x versus Netflix's 33.1x and Disney's 23.5x [13]

公司研究 | 动态跟踪 爱奇艺 IQ.O 买入（维持） 内容质量持续提升，ARM 保持增长 股价（2024年02月22日） 3.61美元 目标价格 6.57美元 52周最高价/最低价 7.86/3.06美元 ——爱奇艺（IQ.O）23Q4前瞻点评 总股本/流通股（亿股） 9.57/5.22 美股市值（亿美元） 34.54 核心观点 国家/地区 中国 行业 传媒 ⚫ 我们预期公司23Q4营收或达77亿(yoy+1%, qoq-4%)，同比增长主要系会员、广 报告发布日期 2024年02月23日 告收入增长双驱动。 GAAP营业利润或达7.5亿（yoy-4%，qoq+1%）；Non- GAAP营业利润或达9亿（yoy-8%，qoq+1%）。GAAP归母净利润或达4亿 1周 1月 3月 12月 （yoy+32%，qoq-15%）；Non-GAAP归母净利润6.5亿（yoy-24%，qoq+5%）。 绝对表现% 1.55 -0.82 -24 -50.68 我们预期23年全年GAAP营业利润或达30亿（yoy+126%），Non-GAAP营业利 相对表现% 0.7 -5.26 -36.45 -90.09 润或达36亿（ ...

2024年农历春节已进入倒计时，近日多地春晚彩排花絮刷屏网络，引发热议。据悉，今年爱奇艺对央视春晚的直播、点播将引入帧绮映画MAX4KHDR超高清码流，这意味着观众在通过帧绮映画MAX设备认证的电视上看春晚，也能享受到“原汁原味”，如身临春晚节目现场的视听体验。 近年来，爱奇艺、优酷、抖音等长短视频平台均开始在赛事、晚会直播中应用超高清技术，较常规的1080P高清直播来说，能达到4KHDR这样的画质标准，意味着平台将投入更高的成本及资源去确保视听能力的实现。为何爱奇艺要在春晚直播上做这样的投入？ 除夕是最能将一家人聚集在大屏前的重要场景。作为国民级晚会，央视春晚连结着亿万观众的时代记忆。从2005年春晚21位聋哑演员惟妙惟肖演绎的《千手观音》，到2011年春晚周杰伦和林志玲以魔术和歌舞形式呈现的《兰亭序》，再到2022年春晚耗时1年8个月悉心编排才登上舞台的《只此青绿》，每年春晚“出圈”的节目，都会成为人们茶余饭后讨论的内容。如何将这些“国民记忆”，在观众阖家团圆之时无损呈现在电视里，成为电视厂商、视频平台们面临的挑战。 2005年央视春晚《千手观音》 而受限于各个播放终端设备的色彩显示差异、网络传输稳定性等 ...

Earnings Announcement and Conference Call - iQIYI Inc will report its financial results for the fourth quarter and fiscal year ended December 31 2023 before the US market opens on February 28 2024 [1] - The earnings conference call will be held at 6:30 AM US Eastern Time on February 28 2024 (7:30 PM Beijing Time) [1] - Participants can register in advance for the conference call using the provided link and will receive dial-in numbers passcode and unique access PIN [1] - A telephone replay of the call will be available until March 6 2024 with international dial-in number +1 855 883 1031 and passcode 10036705 [2] - A live and archived webcast of the conference call will be available at http://ir iqiyi com [2] Company Overview - iQIYI Inc is a leading provider of online entertainment video services in China combining creative talent with technology for continuous innovation and blockbuster content production [3] - The company produces aggregates and distributes a wide variety of professionally produced content and other video content in various formats [3] - iQIYI distinguishes itself in the online entertainment industry through its leading technology platform powered by advanced AI big data analytics and other core proprietary technologies [3] - The company has a daily subscriber base of more than 100 million and a diversified monetization model including membership services online advertising content distribution online games IP licensing talent agency and online literature [3]

BEIJING, Feb. 06, 2024 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced that it will report its financial results for the fourth quarter and fiscal year ended December 31, 2023 before the U.S. market opens on February 28, 2024. iQIYI’s management will hold an earnings conference call at 6:30 AM on February 28, 2024, U.S. Eastern Time (7:30 PM on February 28, 2024, Beijing Time). Please register in adv ...

Exhibit 99.1 iQIYI Announces Third Quarter 2023 Financial Results BEIJING, CHINA, November 21, 2023 – iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced its unaudited financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights "We recorded strong results in both revenues and profits. ARM increased by 12% year over year, driven by our compelling content offering and growing perceived valu ...

iQIYI, Inc. (NASDAQ:IQ) Q3 2023 Earnings Call Transcript November 21, 2023 6:30 AM ET Company Participants Chang You - Director of Investor Relations Yu Gong - Founder, Director & Chief Executive Officer Jun Wang - Chief Financial Officer Youqiao Duan - Senior Vice President, Membership Business Xiaohui Wang - Chief Content Officer Wenfeng Liu - Chief Technology Officer Conference Call Participants Xueqing Zhang - CICC Lincoln Kong - Goldman Sachs Daniel Chen - JPMorgan Thomas Chong - Jefferies Maggie Ye - ...

iQIYI, Inc. (NASDAQ:IQ) Q2 2023 Earnings Conference Call August 22, 2023 8:00 AM ET Company Participants Chang You - Director of Investor Relations Yu Gong - Founder, Director & Chief Executive Officer Jun Wang - Chief Financial Officer Xiaohui Wang - Chief Content Officer Wenfeng Liu - Chief Technology Officer Youqiao Duan - Senior Vice President, Membership Business Gang Wu - Senior Vice President of Brand Advertising Business Conference Call Participants Xueqing Zhang - CICC Lei Zhang - Bank of America S ...

Financial Performance - Total revenues for Q2 2023 reached RMB7.8 billion (US$1.1 billion), representing a 17% year-over-year increase[5] - Operating income was RMB610.4 million (US$84.2 million), with an operating income margin of 8%, compared to 2% in Q2 2022[5] - Non-GAAP operating income was RMB786.4 million (US$108.4 million), with a non-GAAP operating income margin of 10%, up from 5% in the same period last year[5] - Net income attributable to iQIYI was RMB365.2 million (US$50.4 million), a significant recovery from a net loss of RMB214.0 million in Q2 2022[5] - Total revenues for the three months ended June 30, 2023, were RMB 7,802,297, representing a 17.2% increase from RMB 6,656,549 in the same period of 2022[33] - Operating income for the three months ended June 30, 2023, was RMB 610,392, compared to RMB 125,787 for the same period in 2022, marking a significant increase of 385.5%[33] - Net income attributable to iQIYI, Inc. for the three months ended June 30, 2023, was RMB 365,207, a turnaround from a net loss of RMB 213,995 in the same period of 2022[33] - Diluted net income per ADS for the three months ended June 30, 2023, was RMB 0.37, compared to a loss of RMB 0.28 in the same period of 2022[41] - Non-GAAP net income attributable to iQIYI, Inc. for the three months ended June 30, 2023, was RMB 594,663, compared to RMB 78,253 in the same period of 2022[41] Revenue Streams - Membership services revenue increased to RMB4.9 billion (US$682.2 million), a 15% year-over-year growth driven by an increase in subscribing members[8] - The average daily number of total subscribing members rose to 111.2 million, compared to 98.3 million in Q2 2022[9] - Online advertising services revenue grew by 25% year-over-year to RMB1.5 billion (US$206.2 million), primarily due to performance-based advertising[10] - Membership services revenue for the six months ended June 30, 2023, reached RMB 10,493,872, up 19.8% from RMB 8,756,546 in the same period of 2022[33] Costs and Cash Flow - Cost of revenues was RMB5.8 billion (US$796.3 million), a 10% increase year-over-year, mainly due to higher content costs[12] - Free cash flow for the three months ended June 30, 2023, was RMB 872,253, compared to a negative free cash flow of RMB 18,646 in the same period of 2022[37] - Cash and cash equivalents at the end of June 30, 2023, were RMB 3,565,285, down from RMB 7,097,938 at the end of December 31, 2022[35] Assets and Liabilities - As of June 30, 2023, the company had cash and cash equivalents totaling RMB6.1 billion (US$840.8 million)[19] - Total assets decreased to RMB 43,088,918 as of June 30, 2023, from RMB 46,048,349 as of December 31, 2022[35] - Total liabilities decreased to RMB 32,347,631 as of June 30, 2023, from RMB 39,704,910 as of December 31, 2022[35] Future Investments - The company is investing in transformative technologies, including generative AI, to support future growth[4]