Q2 25 EPS
$0.00
BEAT +110.39%
Est. $-0.03
Q2 25 Revenue
$973.7M
MISS 85.35%
Est. $6.65B
vs S&P Since Q2 25
-72.7%
TRAILING MARKET
IQ -55.2% vs S&P +17.5%
Market Reaction
Did IQ Beat Earnings? Q2 2025 Results
iQIYI delivered a deeply mixed second quarter for 2025, posting a narrow earnings beat against steep revenue declines that underscored the mounting pressure on China's leading streaming platform. The company reported adjusted EPS of $0.00, well ahead… Read more iQIYI delivered a deeply mixed second quarter for 2025, posting a narrow earnings beat against steep revenue declines that underscored the mounting pressure on China's leading streaming platform. The company reported adjusted EPS of $0.00, well ahead of the consensus estimate of negative $0.03, a 110.39% beat, yet revenue fell 10.9% year over year to $973.69 million, far below analyst expectations. The shortfall was driven primarily by a lighter content slate that compressed membership services revenue and pulled online advertising down 13% to $186.89 million as cautious marketers trimmed budgets amid macroeconomic headwinds. The revenue weakness outpaced cost reductions despite an 8% decline in content costs to $555.28 million, pushing the company to a GAAP operating loss of $6.78 million compared to operating income of $50.25 million a year earlier. Looking ahead, management is leaning into emerging growth vectors, including AI applications, micro dramas, and an expanding experience business that has already drawn attention for transforming hit shows into theme parks and consumer IP products, as the company works to rebuild momentum and sustain long-term profitability.
Key Takeaways
- • Lighter content slate compared to prior year reduced membership and advertising revenue
- • Advertisers adjusted promotion strategies due to macro pressures, weighing on ad revenue
- • Decreased barter transactions drove content distribution revenue decline
- • Content cost reductions of 8% partially offset revenue declines
- • Foreign exchange gains reduced total other expense by 74% year over year
IQ YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
IQ Revenue by Segment
With YoY comparisons, source: SEC Filings
“During the second quarter and into the summer season, we delivered a series of blockbusters and secured the top market share in total drama viewership, according to Enlightent data. Meanwhile, we are focusing on innovation and investing in key growth areas such as AI applications, micro dramas, experience business, and global expansion, all with the goal of driving sustainable, long-term success.”
— Yu Gong, Q2 2025 Earnings Press Release
IQ Earnings Trends
IQ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
IQ EPS Trend
Earnings per share: estimate vs actual
IQ Revenue Trend
Quarterly revenue: estimate vs actual
IQ Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.22 | $-0.04 | +83.81% | $913.3M | -85.39% |
| Q4 25 MISS FY | $0.06 | $0.02 | -73.62% | $998.1M | -85.20% |
| FY Full Year | — | $0.04 | — | $4.01B | — |
| Q3 25 BEAT | $-0.13 | $-0.02 | +82.84% | $981.6M | -85.05% |
| Q2 25 BEAT | $-0.03 | $0.00 | +110.39% | $973.7M | -85.35% |
| Q1 25 MISS | $0.30 | $0.05 | -84.75% | $1.06B | -85.13% |