Companies /Communication Services

iQIYI Inc

NASDAQ: IQ Entertainment
$0.92
▼ $0.06 (−5.98%) today
Markets closed · 2:06am ET

Q1 2026 Earnings

Reported May 18, 2026, 4:05pm ET · SEC source
$-0.04
Beat +83.81%
EPS · est. $-0.22
$913.3M
Miss −85.39%
Revenue · est. $6.3B
−10.8%
Trailing market
IQ vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2.1%−1.4%−0.7%0May 18May 19report 4:05pm ETearnings−0.6%−1.3%
−2.1%−1.4%−0.7%0May 18May 19earnings−0.6%−1.3%
IQ −1.3%S&P 500 −0.6%
−2.1%−1.4%−0.7%0May 18May 19report 4:05pm ETearnings−0.6%−1.3%
−2.1%−1.4%−0.7%0May 18May 19earnings−0.6%−1.3%
IQ −1.3%NASDAQ −0.6%
−8%−4%0+4%May 18May 26report 4:05pm ETearnings+1.5%−5.7%
−8%−4%0+4%May 18May 26earnings+1.5%−5.7%
IQ −5.7%S&P 500 +1.5%
−8%−4%0+4%May 18May 26report 4:05pm ETearnings+3.4%−5.7%
−8%−4%0+4%May 18May 26earnings+3.4%−5.7%
IQ −5.7%NASDAQ +3.4%
−2.59%
Day of report
−1.77%
Next session
−2.65%
One week
−9.73%
30 days

S&P 500 over the same 30 days: +1.10%.

Did IQ Beat Earnings? Q1 2026 Results

iQIYI delivered a mixed first quarter for fiscal 2026, posting a loss per share of $0.04 against a consensus estimate of $0.22, a beat of 83.81%, even as revenue of $913.32 million fell 13.4% year over year and came in well below what analysts had projected. The headline EPS outperformance was undercut by a broad revenue shortfall, with membership services, the company's largest segment at $616.10 million, slipping 5% on a lighter content slate, while online advertising dropped 7% to $182.00 million amid persistent macro headwinds and content distribution revenue plunged 43% to $52.63 million. The company swung to a GAAP operating loss of $33.51 million from operating income of $50.16 million a year earlier, though cost discipline, including a 20% reduction in SG&A to $119.78 million, helped cushion the blow. Looking ahead, iQIYI is leaning on AI to cut content production costs and accelerate output, while a proposed Hong Kong Stock Exchange listing and a $100.00 million share repurchase program signal management's effort to broaden its investor base and shore up confidence.

Key Takeaways
  • Hit drama lineup drove sequential membership revenue growth
  • Domestic viewership market share leadership according to Enlightent
  • Overseas business sustained robust growth momentum with record membership revenue
  • Disciplined marketing spending reduced SG&A expenses by 20% year over year

“We are reinforcing our core strengths, unlocking new growth drivers, and building for the long term. In the first quarter, our hit drama lineup drove sequential membership revenue growth and cemented our leadership in domestic viewership market share, according to Enlightent. Meanwhile, our overseas business sustained its robust growth momentum, achieving record membership revenue this quarter.”

iQIYI CEO, on the earnings call

Forward Guidance & Outlook

iQIYI is leveraging AI to reduce content production costs, accelerate production cycles, and expand its content ecosystem. The company announced a proposed listing on the Main Board of the Hong Kong Stock Exchange and initiated its first share repurchase program of up to US$100 million, effective through September 2027.

IQ YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$300.0M$600.0M$900.0M$1.1B$913.3MRevenue$261.2M$145.6MGross Profit
$0$300.0M$600.0M$900.0MRevenueGross Profit

IQ Revenue by Segment

Membership Services$616.1M−5.0%
Online Advertising Services$182.0M−7.0%
Others$62.6M−49.0%
Content Distribution$52.6M−43.0%

Figures from SEC filings and company reports. Not investment advice.