Q3 25 EPS
$-0.02
BEAT +82.84%
Est. $-0.13
Q3 25 Revenue
$981.6M
MISS 85.05%
Est. $6.57B
vs S&P Since Q3 25
-64.5%
TRAILING MARKET
IQ -51.9% vs S&P +12.7%
Market Reaction
Did IQ Beat Earnings? Q3 2025 Results
iQIYI delivered a mixed Q3 2025, posting a loss per ADS of $0.02 that cleared the consensus estimate of $0.13 by 82.84%, yet revenue of $981.64 million fell well short of expectations and slid 7.8% year over year as a lighter content slate weighed on… Read more iQIYI delivered a mixed Q3 2025, posting a loss per ADS of $0.02 that cleared the consensus estimate of $0.13 by 82.84%, yet revenue of $981.64 million fell well short of expectations and slid 7.8% year over year as a lighter content slate weighed on its largest business segment. Membership services, which account for the bulk of iQIYI's top line, slipped 4% to $618.79 million, while online advertising dropped 7% to $182.24 million, with weakness in performance-based advertising more than offsetting solid brand advertising growth. The quarter's most consequential development was a swing back to a net loss, with net loss attributable to iQIYI reaching $36.57 million compared to net income of $33.70 million a year earlier, a reversal that analysts noted increases the company's vulnerability to content cycles and broader economic pressures in China. Management pointed to its IP-centric strategy, AI-driven production efficiencies, and overseas expansion as the pillars of its recovery thesis heading into the next content cycle.
Key Takeaways
- • Lighter content slate compared to Q3 2024 drove membership revenue decline
- • Brand advertising achieved solid year-over-year growth but was offset by performance-based advertising decline
- • Theatrical movie distribution revenue grew robustly but was offset by drama series distribution decline
- • Alteration of certain business cooperation arrangement reduced other revenues
- • Content costs declined only 1% year over year despite 8% revenue decline
- • Foreign exchange gain narrowed significantly from RMB296 million to RMB38 million year over year
IQ YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
IQ Revenue by Segment
With YoY comparisons, source: SEC Filings
“The success of our recent drama hits underscores our consistent ability to amplify IP value through high-quality storytelling and advanced production, to connect with broad audiences, and to build our business model with IP at its core.”
— Yu Gong, Q3 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% |