iQIYI posts $18.6 million loss in Q2 as revenue declines

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iQIYI reported a net loss of RMB 133.7 million ($18.6 million) in the second quarter of 2025, reversing a profit of RMB 68.7 million ($9.6 million) in the same period last year, as revenue declined across key segments. On a non-US GAAP basis, net profit was RMB 14.7 million ($2.0 million), down from RMB 246.9 million ($34.3 million) a year earlier. Subscription revenue dropped 9% to RMB 4.09 billion ($568 million), while online advertising revenue fell 13% to RMB 1.27 billion ($176 million). Content distribution revenue slumped 37% to RMB 436.6 million ($60.6 million), though other revenue grew 6% to RMB 829.3 million ($115 million). Net cash used in operating activities totaled RMB 12.7 million ($1.8 million), and free cash flow was negative RMB 34.1 million ($4.7 million).