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
- Total revenues were RMB8.0 billion
(US$1.1 billion1), increasing 7% year over year.
- Operating income was RMB746.7
million (US$102.4 million) and operating income margin was 9%,
compared to operating income of RMB309.7 million and operating
income margin of 4% in the same period in 2022.
- Non-GAAP operating income2 was
RMB894.9 million (US$122.7 million) and non-GAAP operating income
margin was 11%, compared to non-GAAP operating income of RMB524.3
million and non-GAAP operating income margin of 7% in the same
period in 2022.
- Net income attributable to iQIYI
was RMB475.9 million (US$65.2 million), compared to net loss
attributable to iQIYI of RMB395.6 million in the same period in
2022.
- Non-GAAP net income attributable to
iQIYI2 was RMB622.1 million (US$85.3 million), compared to non-GAAP
net income attributable to iQIYI of RMB187.2 million in the same
period in 2022.
“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 value of our
membership privilege,” commented Mr. Yu Gong, Founder, Director,
and Chief Executive Officer of iQIYI. “Our business proves to be
defensible against the fluctuations of economic cycles.”
“We continue to benefit from operating leverage.
Our GAAP and Non-GAAP operating income grew by 141% and 71% year
over year, respectively. Our GAAP and Non-GAAP operating margin
further expanded from 4% and 7% in the third quarter of 2022 to 9%
and 11% this quarter, respectively,” commented Mr. Jun Wang, Chief
Financial Officer of iQIYI. “Our operating cash flow and free cash
flow reached RMB831 million and RMB826 million, respectively.”
Third Quarter 2023 Financial
Highlights
|
Three Months Ended |
(Amounts in thousands of Renminbi (“RMB”), except for per ADS data,
unaudited) |
September 30, |
|
June 30, |
|
September 30, |
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
|
RMB |
|
Total revenues |
7,471,081 |
|
|
7,802,297 |
|
|
8,015,079 |
|
|
|
|
|
|
|
|
|
Operating income |
309,665 |
|
|
610,392 |
|
|
746,747 |
|
Operating income (non-GAAP) |
524,347 |
|
|
786,391 |
|
|
894,879 |
|
|
|
|
|
|
|
|
|
Net (loss)/income attributable to iQIYI, Inc. |
(395,569 |
) |
|
365,207 |
|
|
475,920 |
|
Net income attributable to iQIYI, Inc.
(non-GAAP) |
187,207 |
|
|
594,663 |
|
|
622,071 |
|
|
|
|
|
|
|
|
|
Diluted net (loss)/income per ADS |
(0.46 |
) |
|
0.37 |
|
|
0.49 |
|
Diluted net income per ADS
(non-GAAP)2 |
0.21 |
|
|
0.61 |
|
|
0.64 |
|
|
|
|
|
|
|
|
|
|
Third Quarter 2023 Operating
Highlights
- The average daily number of total
subscribing members3 for the quarter was 107.5 million, compared to
101.0 million for the same period in 2022 and 111.2 million for the
second quarter in 2023. The average daily number of subscribing
members excluding individuals with trial memberships4 for the
quarter was 106.9 million, compared to 100.2 million for the same
period in 2022 and 110.7 million for the second quarter in
2023.
- The monthly average revenue per
membership (ARM5) for the third quarter was RMB15.54, compared to
RMB13.90 for the same period in 2022 and RMB14.82 for the second
quarter in 2023, increasing 12% year over year.
Footnotes: [1] Unless otherwise noted, RMB to USD was converted
at an exchange rate of RMB7.2960 as of September 29, 2023, as set
forth in the H.10 statistical release of the Board of Governors of
the Federal Reserve System. Translations are provided solely for
the convenience of the reader.[2] Non-GAAP measures are defined in
the Non-GAAP Financial Measures section (see also “Reconciliations
of Non-GAAP Financial Measures to the Nearest Comparable GAAP
Measures” for more details).[3] The average daily number of total
subscribing members for a quarter is calculated by averaging the
number of total subscribing members in each day of such quarter.[4]
The average daily number of subscribing members excluding
individuals with trial memberships for the quarter is calculated by
averaging the number of subscribing members excluding individuals
with trial memberships in each day of such quarter.[5] The monthly
ARM for the quarter is calculated by dividing our total revenues
from membership services during a given quarter by the average
daily number of total subscribing members for that quarter and the
number of months in the quarter.
Third Quarter 2023 Financial
Results
Total revenues reached RMB8.0 billion (US$1.1
billion), increasing 7% year over year.
Membership services revenue was RMB5.0 billion
(US$686.9 million), increasing 19% year over year, primarily
attributable to the increase in ARM and our continuous efforts in
refining operations to improve monetization capabilities. The
average daily number of total subscribing members for the quarter
was 107.5 million, compared to 101.0 million for the same period
last year. The number of total subscribing members was 102.8
million as of September 30, 2023, compared to 106.2 million as of
September 30, 2022.
Online advertising services revenue was RMB1.7
billion (US$229.5 million), increasing 34% year over year, driven
by growth in both performance-based advertising and brand
advertising businesses. For performance-based advertising, revenue
growth was attributable to our improved sales efforts and optimized
algorithms. Additionally, our premium original content attracted
stronger advertising demand and drove the growth in brand
advertising service revenue.
Content distribution revenue was RMB526.1
million (US$72.1 million), decreasing 28% year over year, primarily
due to the decrease in average unit price of barter transactions,
partially offset by the increase in average unit price of cash
transactions.
Other revenues were RMB803.1 million (US$110.1
million), decreasing 37% year over year, primarily due to
deconsolidation of live broadcasting business and lesser revenue
derived from third-party cooperation.
Cost of revenues was RMB5.8 billion (US$800.4
million), increasing 2% year over year. Content costs as a
component of cost of revenues were RMB4.2 billion (US$573.4
million), decreasing 3% year over year.
Selling, general and administrative expenses
were RMB981.4 million (US$134.5 million), flat year over year.
Research and development expenses were RMB447.4
million (US$61.3 million), decreasing 6% year over year, primarily
due to the decrease in personnel-related compensation expenses.
Operating income was RMB746.7 million (US$102.4
million), compared to operating income of RMB309.7 million in the
same period in 2022. Operating income margin was 9%, compared to
operating income margin of 4% in the same period in 2022. Non-GAAP
operating income was RMB894.9 million (US$122.7 million) and
non-GAAP operating income margin was 11%, compared to non-GAAP
operating income of RMB524.3 million and non-GAAP operating income
margin of 7% in the same period in 2022.
Total other expense was RMB254.2 million
(US$34.8 million), compared to total other expense of RMB662.0
million during the same period of 2022. The year over year decrease
was primarily driven by the decrease in the impairment provision,
less loss pick-up from equity method investment and loss from
foreign exchange, and partially offset by increased interest
expenses.
Income before income taxes was RMB492.5 million
(US$67.5 million), compared to loss before income taxes of RMB352.4
million in the same period in 2022.
Income tax expense was RMB9.0
million (US$1.2 million), compared to income tax expense of
RMB42.5 million in the same period in 2022.
Net income attributable to iQIYI was RMB475.9
million (US$65.2 million), compared to net loss attributable to
iQIYI of RMB395.6 million in the same period in 2022. Diluted net
income attributable to iQIYI per ADS was RMB0.49 (US$0.07) for the
third quarter of 2023, compared to diluted net loss attributable to
iQIYI per ADS of RMB0.46 in the same period of 2022. Non-GAAP net
income attributable to iQIYI was RMB622.1 million (US$85.3
million), compared to non-GAAP net income attributable to iQIYI of
RMB187.2 million in the same period in 2022. Non-GAAP diluted net
income attributable to iQIYI per ADS was RMB0.64 (US$0.09),
compared to non-GAAP diluted net income attributable to iQIYI per
ADS of RMB0.21 in the same period of 2022.
As of September 30, 2023, the Company had cash,
cash equivalents, restricted cash, short-term investments and
long-term restricted cash included in prepayments and other assets
of RMB7.2 billion (US$980.9 million).
Conference Call Information
iQIYI's management will hold an earnings
conference call at 6:30 AM on November 21, 2023, U.S. Eastern Time
(7:30 PM on November 21, 2023, Beijing Time).
Please register in advance of the conference
using the link provided below. Upon registering, you will be
provided with participant dial-in numbers, passcode and unique
access PIN by a calendar invite.
Participant Online Registration:
https://s1.c-conf.com/diamondpass/10034674-abdow7.html
It will automatically direct you to the
registration page of "iQIYI Third Quarter 2023 Earnings Conference
Call", where you may fill in your details for RSVP.
In the 10 minutes prior to the call start time,
you may use the conference access information (including dial-in
number(s), passcode and unique access PIN) provided in the calendar
invite that you have received following your pre-registration.
A telephone replay of the call will be available
after the conclusion of the conference call through November 28,
2023.
Dial-in
numbers for the replay are as follows: |
International
Dial-in |
+1 855 883
1031 |
Passcode: |
10034674 |
|
|
A live and archived webcast of the conference
call will be available at http://ir.iqiyi.com/.
About iQIYI, Inc.
iQIYI, Inc. is a leading provider of online
entertainment video services in China. It combines creative talent
with technology to foster an environment for continuous innovation
and the production of blockbuster content. It produces, aggregates
and distributes a wide variety of professionally produced content,
as well as a broad spectrum of other video content in a variety of
formats. The Company distinguishes itself in the online
entertainment industry by its leading technology platform powered
by advanced AI, big data analytics and other core proprietary
technologies. iQIYI attracts a daily subscriber base of more than
100 million, and its diversified monetization model includes
membership services, online advertising services, content
distribution, online games, IP licensing, talent agency, online
literature, etc.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and
similar statements. Among other things, the quotations from
management in this announcement, as well as iQIYI's strategic and
operational plans, contain forward-looking statements. iQIYI may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including but not limited to statements about
iQIYI's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: iQIYI's
strategies; iQIYI's future business development, financial
condition and results of operations; iQIYI's ability to retain and
increase the number of users, members and advertising customers,
and expand its service offerings; competition in the online
entertainment industry; changes in iQIYI's revenues, costs or
expenditures; Chinese governmental policies and regulations
relating to the online entertainment industry, general economic and
business conditions globally and in China and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company’s
filings with the Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of the press release, and iQIYI undertakes no
duty to update such information, except as required under
applicable law.
Non-GAAP Financial
Measures
To supplement iQIYI’s consolidated financial
results presented in accordance with GAAP, iQIYI uses the following
non-GAAP financial measures: non-GAAP operating income, non-GAAP
operating income margin, non-GAAP net income attributable to iQIYI,
non-GAAP diluted net income attributable to iQIYI per ADS and free
cash flow. The presentation of the non-GAAP financial measure is
not intended to be considered in isolation or as a substitute for
the financial information prepared and presented in accordance with
GAAP.
iQIYI believes that these non-GAAP financial
measures provide meaningful supplemental information regarding its
operating performance by excluding certain items that may not be
indicative of its business operating results, such as operating
performance excluding non-cash charges or non-operating in nature.
The Company believes that both management and investors benefit
from referring to the non-GAAP financial measures in assessing its
performance and when planning and forecasting future periods. These
non-GAAP financial measures also facilitate management’s internal
comparisons to iQIYI’s historical operating performance. The
Company believes the non-GAAP financial measures are useful to
investors in allowing for greater transparency with respect to
supplemental information used by management in its financial and
operational decision making. A limitation of using these non-GAAP
financial measures is that the non-GAAP measures exclude certain
items that have been and will continue to be for the foreseeable
future a significant component in the Company’s results of
operations. These non-GAAP financial measures presented here may
not be comparable to similarly titled measures presented by other
companies. Other companies may calculate similarly titled measures
differently, limiting their usefulness as comparative measures to
the Company’s data.
Non-GAAP operating income represents
operating income excluding share-based compensation expenses,
amortization and impairment of intangible assets resulting from
business combinations.
Non-GAAP net income attributable to iQIYI, Inc.
represents net (loss)/income attributable to iQIYI, Inc. excluding
share-based compensation expenses, amortization and impairment of
intangible assets resulting from business combinations, disposal
gain or loss, impairment of long-term investments, fair value
change of long-term investments, adjusted for related income tax
effects. iQIYI’s share of equity method investments for these
non-GAAP reconciling items, primarily amortization and impairment
of intangible assets not on the investees’ books, accretion of
their redeemable non-controlling interests, and the gain or loss
associated with the issuance of shares by the investees at a price
higher or lower than the carrying value per shares, adjusted for
related income tax effects, are also excluded.
Non-GAAP diluted net income per ADS represents
diluted net (loss)/income per ADS calculated by dividing non-GAAP
net income attributable to iQIYI, Inc, by the weighted average
number of ordinary shares expressed in ADS.
Free cash flow represents net cash provided by
operating activities less capital expenditures.
For more information, please contact:
Investor RelationsiQIYI, Inc.ir@qiyi.com
iQIYI, INC.Condensed Consolidated
Statements of (Loss)/Income(In RMB thousands,
except for number of shares and per share data) |
|
|
Three Months Ended |
|
September 30, |
|
June 30, |
|
September 30, |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
RMB |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
Revenues: |
|
|
|
|
|
Membership services |
4,210,722 |
|
|
4,946,567 |
|
|
5,011,617 |
|
Online advertising services |
1,247,114 |
|
|
1,495,378 |
|
|
1,674,260 |
|
Content distribution |
729,698 |
|
|
553,319 |
|
|
526,132 |
|
Others |
1,283,547 |
|
|
807,033 |
|
|
803,070 |
|
Total
revenues |
7,471,081 |
|
|
7,802,297 |
|
|
8,015,079 |
|
|
|
|
|
|
|
Operating costs and
expenses: |
|
|
|
|
|
Cost of revenues |
(5,705,260 |
) |
|
(5,773,867 |
) |
|
(5,839,540 |
) |
Selling, general and administrative |
(980,293 |
) |
|
(979,000 |
) |
|
(981,409 |
) |
Research and development |
(475,863 |
) |
|
(439,038 |
) |
|
(447,383 |
) |
Total operating costs
and expenses |
(7,161,416 |
) |
|
(7,191,905 |
) |
|
(7,268,332 |
) |
Operating
income |
309,665 |
|
|
610,392 |
|
|
746,747 |
|
|
|
|
|
|
|
Other
income/(expense): |
|
|
|
|
|
Interest income |
18,631 |
|
|
52,196 |
|
|
45,219 |
|
Interest expenses |
(181,641 |
) |
|
(278,521 |
) |
|
(281,528 |
) |
Foreign exchange loss, net |
(79,768 |
) |
|
(114,992 |
) |
|
(38,084 |
) |
(Loss)/gain from equity method investments |
(69,807 |
) |
|
33,789 |
|
|
1,355 |
|
Others, net |
(349,455 |
) |
|
72,928 |
|
|
18,802 |
|
Total other expense,
net |
(662,040 |
) |
|
(234,600 |
) |
|
(254,236 |
) |
|
|
|
|
|
|
(Loss)/Income before
income taxes |
(352,375 |
) |
|
375,792 |
|
|
492,511 |
|
Income tax expense |
(42,501 |
) |
|
(7,930 |
) |
|
(9,012 |
) |
|
|
|
|
|
|
Net (loss)/
income |
(394,876 |
) |
|
367,862 |
|
|
483,499 |
|
Less: Net income attributable to noncontrolling interests |
693 |
|
|
2,655 |
|
|
7,579 |
|
Net (loss)/income
attributable to iQIYI, Inc. |
(395,569 |
) |
|
365,207 |
|
|
475,920 |
|
Net (loss)/income
attributable to ordinary shareholders |
(395,569 |
) |
|
365,207 |
|
|
475,920 |
|
|
|
|
|
|
|
Net (loss)/income per
share for Class A and Class B ordinary shares: |
|
|
|
|
|
Basic |
(0.07 |
) |
|
0.05 |
|
|
0.07 |
|
Diluted |
(0.07 |
) |
|
0.05 |
|
|
0.07 |
|
|
|
|
|
|
|
Net (loss)/income per
ADS (1 ADS equals 7 Class A ordinary shares): |
|
|
|
|
|
Basic |
(0.46 |
) |
|
0.38 |
|
|
0.50 |
|
Diluted |
(0.46 |
) |
|
0.37 |
|
|
0.49 |
|
|
|
|
|
|
|
Weighted average
number of Class A and Class B ordinary shares used in net income
per share computation: |
|
|
|
|
|
Basic |
6,081,974,163 |
|
|
6,704,546,096 |
|
|
6,712,002,812 |
|
Diluted |
6,081,974,163 |
|
|
6,851,986,558 |
|
|
6,850,839,094 |
|
|
|
|
|
|
|
iQIYI, INC.Condensed Consolidated Balance
Sheets(In RMB thousands, except for number of
shares and per share data) |
|
|
December 31, |
|
September 30, |
|
2022 |
|
2023 |
|
RMB |
|
RMB |
|
|
|
(Unaudited) |
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
7,097,938 |
|
|
4,230,587 |
|
Restricted cash |
13,618 |
|
|
6,120 |
|
Short-term investments |
818,265 |
|
|
1,024,923 |
|
Accounts receivable, net |
2,402,675 |
|
|
2,473,873 |
|
Prepayments and other assets |
2,602,927 |
|
|
2,953,466 |
|
Amounts due from related parties |
104,154 |
|
|
202,155 |
|
Licensed copyrights, net |
746,058 |
|
|
696,997 |
|
Total current assets |
13,785,635 |
|
|
11,588,121 |
|
|
|
|
|
Non-current assets: |
|
|
|
Fixed assets, net |
1,104,721 |
|
|
908,418 |
|
Long-term investments |
2,453,644 |
|
|
2,365,120 |
|
Licensed copyrights, net |
6,840,629 |
|
|
6,991,874 |
|
Intangible assets, net |
436,685 |
|
|
390,021 |
|
Produced content, net |
13,001,904 |
|
|
12,625,559 |
|
Prepayments and other assets |
3,865,133 |
|
|
4,631,872 |
|
Operating lease assets |
673,971 |
|
|
635,886 |
|
Goodwill |
3,826,147 |
|
|
3,820,823 |
|
Amounts due from related parties |
59,880 |
|
|
147,852 |
|
Total non-current assets |
32,262,714 |
|
|
32,517,425 |
|
|
|
|
|
Total
assets |
46,048,349 |
|
|
44,105,546 |
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS’ EQUITY |
|
|
|
Current liabilities: |
|
|
|
Accounts and notes payable |
5,993,416 |
|
|
5,935,958 |
|
Amounts due to related parties |
3,521,646 |
|
|
3,087,489 |
|
Customer advances and deferred revenue |
4,232,110 |
|
|
4,505,676 |
|
Convertible senior notes, current portion |
8,305,447 |
|
|
3,114,492 |
|
Short-term loans |
3,347,638 |
|
|
3,360,681 |
|
Operating lease liabilities, current portion |
103,517 |
|
|
95,544 |
|
Accrued expenses and other liabilities |
2,626,244 |
|
|
2,496,508 |
|
Total current liabilities |
28,130,018 |
|
|
22,596,348 |
|
Non-current liabilities: |
|
|
|
Convertible senior notes |
9,568,279 |
|
|
8,349,132 |
|
Deferred tax liabilities |
1,832 |
|
|
1,048 |
|
Amounts due to related parties |
100,941 |
|
|
85,519 |
|
Operating lease liabilities |
508,571 |
|
|
474,763 |
|
Other non-current liabilities |
1,395,269 |
|
|
1,252,833 |
|
Total non-current liabilities |
11,574,892 |
|
|
10,163,295 |
|
|
|
|
|
Total
liabilities |
39,704,910 |
|
|
32,759,643 |
|
|
|
|
|
|
|
|
|
Shareholders’
equity: |
|
|
|
|
|
|
|
Class A ordinary shares |
194 |
|
|
236 |
|
Class B ordinary shares |
193 |
|
|
193 |
|
Additional paid-in
capital |
50,885,688 |
|
|
54,811,647 |
|
Accumulated deficit |
(46,498,897 |
) |
|
(45,039,661 |
) |
Accumulated other
comprehensive income |
1,863,454 |
|
|
1,483,659 |
|
Non-controlling interests |
92,807 |
|
|
89,829 |
|
Total shareholders’
equity |
6,343,439 |
|
|
11,345,903 |
|
|
|
|
|
Total liabilities and
shareholders' equity |
46,048,349 |
|
|
44,105,546 |
|
iQIYI, INC.Condensed Consolidated
Statements of Cash Flows (In RMB thousands, except
for number of shares and per share data) |
|
|
|
Three Months Ended |
|
|
September 30, |
|
June 30, |
|
September 30, |
|
|
2022 |
|
2023 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
|
|
|
|
|
|
Net cash provided by operating activities |
195,724 |
|
|
885,560 |
|
|
830,689 |
|
Net cash provided
by/ (used for) investing activities(1,2) |
406,840 |
|
|
(420,481 |
) |
|
(55,245 |
) |
Net cash (used
for)/ provided by financing activities |
(105,876 |
) |
|
(1,175,147 |
) |
|
269,189 |
|
Effect of exchange
rate changes on cash, cash equivalents and restricted cash |
60,182 |
|
|
127,759 |
|
|
4,587 |
|
Net
increase/ (decrease) in cash, cash equivalents and restricted
cash |
556,870 |
|
|
(582,309 |
) |
|
1,049,220 |
|
Cash, cash
equivalents and restricted cash at the beginning of the period |
3,019,384 |
|
|
5,664,674 |
|
|
5,082,365 |
|
Cash, cash
equivalents and restricted cash at the end of the period |
3,576,254 |
|
|
5,082,365 |
|
|
6,131,585 |
|
|
|
|
|
|
|
Reconciliation of cash and cash equivalents and restricted
cash: |
|
|
|
|
Cash and cash
equivalents |
3,559,899 |
|
|
3,565,285 |
|
|
4,230,587 |
|
Restricted
cash |
16,355 |
|
|
6,120 |
|
|
6,120 |
|
Long-term
restricted cash |
- |
|
|
1,510,960 |
|
|
1,894,878 |
|
Total cash and cash equivalents and restricted cash shown
in the statements of cash flows |
3,576,254 |
|
|
5,082,365 |
|
|
6,131,585 |
|
|
|
|
|
|
|
|
Net cash
provided by operating activities |
195,724 |
|
|
885,560 |
|
|
830,689 |
|
Less: Capital expenditures(2) |
(48,143 |
) |
|
(13,307 |
) |
|
(4,192 |
) |
Free cash flow |
147,581 |
|
|
872,253 |
|
|
826,497 |
|
|
(1) |
Net cash provided by or used for investing activities primarily
consists of net cash flows from investing in debt securities,
purchase of long-term investments and capital
expenditures. |
(2) |
Capital expenditures are incurred primarily in connection with
leasehold improvements, computers and
servers. |
|
|
iQIYI, INC.Reconciliations of Non-GAAP
Financial Measures to the Nearest Comparable GAAP
Measures(Amounts in thousands of Renminbi (“RMB”),
except for per ADS information, unaudited) |
|
|
Three Months Ended |
|
|
September 30, |
|
June 30, |
|
September 30, |
|
|
2022 |
|
2023 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
|
|
|
|
|
|
|
Operating income |
309,665 |
|
|
610,392 |
|
|
746,747 |
|
Add: Share-based
compensation expenses |
204,770 |
|
|
169,380 |
|
|
145,730 |
|
Add: Amortization
and impairment of intangible assets(1) |
9,912 |
|
|
6,619 |
|
|
2,402 |
|
Operating
income (non-GAAP) |
524,347 |
|
|
786,391 |
|
|
894,879 |
|
|
|
|
|
|
|
Net
(loss)/income attributable to iQIYI, Inc. |
(395,569 |
) |
|
365,207 |
|
|
475,920 |
|
Add: Share-based
compensation expenses |
204,770 |
|
|
169,380 |
|
|
145,730 |
|
Add: Amortization
and impairment of intangible assets(1) |
9,912 |
|
|
6,619 |
|
|
2,402 |
|
Add: Disposal
gain |
- |
|
|
(89,571 |
) |
|
- |
|
Add: Impairment of
long-term investments |
376,339 |
|
|
155,011 |
|
|
- |
|
Add: Fair value
gain of long-term investments |
(26,652 |
) |
|
(3,550 |
) |
|
(1,756 |
) |
Add: Reconciling
items on equity method investments(2) |
16,323 |
|
|
(8,895 |
) |
|
- |
|
Add: Tax effects
on non-GAAP adjustments(3) |
2,084 |
|
|
462 |
|
|
(225 |
) |
Net income
attributable to iQIYI, Inc. (non-GAAP) |
187,207 |
|
|
594,663 |
|
|
622,071 |
|
|
|
|
|
|
|
Diluted
net (loss)/income per ADS |
(0.46 |
) |
|
0.37 |
|
|
0.49 |
|
Add: Non-GAAP
adjustments to earnings per ADS |
0.67 |
|
|
0.24 |
|
|
0.15 |
|
Diluted
net income per ADS (non-GAAP) |
0.21 |
|
|
0.61 |
|
|
0.64 |
|
|
|
|
|
|
|
|
|
|
|
(1) |
This represents
amortization and impairment of intangible assets resulting from
business combinations. |
(2) |
This represents
iQIYI’s share of equity method investments for other non-GAAP
reconciling items, primarily amortization and impairment of
intangible assets not on the investee’s books, accretion of their
redeemable noncontrolling interests, and the gain or loss
associated with the issuance of shares by the investees at a price
higher or lower than the carrying value per shares. |
(3) |
This represents tax
impact of all relevant non-GAAP adjustments. |
iQiyi (NASDAQ:IQ)
過去 株価チャート
から 8 2024 まで 9 2024
iQiyi (NASDAQ:IQ)
過去 株価チャート
から 9 2023 まで 9 2024