Recently, iQIYI (NASDAQ: IQ) released its unaudited third quarter financial report as of September 30. The financial report shows that the total revenue of iQIYI in the third quarter was 7.5 billion yuan. As of September 30, the number of members had reached 106 million, an increase of more than 10 million over June 30; The daily average number of subscription members in the quarter was 101 million, a net increase of 2.7 million month on month. The operating profit of the quarter based on non GAAP financial indicators was 524 million yuan, a 53% increase from 344 million yuan in the second quarter, and it has achieved operating profit for three consecutive quarters. Gong Yu, founder and CEO of iQIYI, said on the financial report call that through the efforts of the first three quarters of this year, iQIYI completed a landmark reversal, and its business performance far exceeded the target set at the beginning of the year. In the first three quarters of 2022, iQIYI's non GAAP operating profit totaled nearly 1.2 billion yuan, a sharp reversal from the operating loss of 2.5 billion yuan in the same period last year. Meanwhile, the operating cash flow has been positive for two consecutive quarters. IQIYI further expanded its market share. In September, the mobile terminal was significantly ahead of the industry in terms of user size, user activity, user stickiness and other indicators. The third-party cloud integration data showed that the effective broadcast of iQIYI dramas ranked first in the industry in September, with the highest leading range in history. "In this quarter, iQIYI's production of blockbuster dramas has driven the significant growth of the number of members in the quarter, further consolidated our leading position in the market, and achieved the double growth of operating profit and market share." Gong Yu said that in the future, he will continue to implement the "calm growth" strategy, expand new value growth points, and provide users with more high-quality and diversified content and services on the premise of ensuring the overall operating efficiency, And further promote the healthy development of business. IQIYI's Non GAAP operating profit grew by 53% month on month. In the third quarter, the number of members increased by more than ten million. iQIYI's quality and efficiency improved significantly. Non GAAP's operating profit was 524 million yuan, up 53% month on month. Since the fourth quarter of last year, the operating profit has increased for four consecutive quarters. The revenue cost in the third quarter was 5.7 billion yuan, down 19% year on year. The overall operating expenses were 1.456 billion yuan, down 25% year on year. As the most important business segment of iQIYI, the revenue of member business in the third quarter was 4.2 billion yuan. The monthly average single member income (ARM) in the quarter was 13.90 yuan, up 2% year on year. As of September 30, the number of iQIYI members reached 106 million, a net increase of more than 10 million compared with 95.6 million at the end of June. The number of daily subscription members in the third quarter was 101 million, an increase of 2.7 million over the second quarter. It is worth mentioning that, for the first time in four years, the number of members continued to grow after the summer vacation, which made the average number of daily subscription members in September this year reach the highest value in the same period of history. The total revenue in the third quarter was 7.5 billion yuan, up 12% month on month. The online advertising, content distribution and other revenues were 1.2 billion yuan, 730 million yuan and 1.3 billion yuan, respectively, up 4%, 52% and 84% month on month. The content cost spent 4.3 billion yuan in the current quarter, up 12% month on month, indicating that iQIYI started from the third quarter
Edit：wangwenting Responsible editor：xiaomai
Source：xinhuanet
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