"Total revenue -- RMB 6.7 billion, a 1% sequential increase, driven by premium content releases during the peak summer season. Membership services revenue -- RMB 4.2 billion, up 3% sequentially, attributed to original blockbuster dramas and theatrical hits. Online advertising revenue -- RMB 1.2 billion, down 2% sequentially, as the prior quarter benefited from a major advertising campaign. Distribution revenue -- RMB 644.5 million, up 48% sequentially, reflecting strong performance from original theatrical movie investments and growing drama transactions."
"Content cost -- RMB 4 billion, up 7% sequentially due to broader, premium content offerings. Total operating expenses -- RMB 1.3 billion, down 3% sequentially, reflecting disciplined expense management. Non-GAAP operating loss -- RMB 21.9 million, with a non-GAAP operating loss margin of 0.3%. Cash and investments -- RMB 4.9 billion, including cash, cash equivalents, restricted cash, short-term investments, and long-term restricted cash as of quarter end."
"Loan to PAG -- USD 582.5 million, recorded under amounts due from related parties at quarter end. International membership revenue growth -- Exceeded 40% annual growth, with markets such as Brazil, Mexico, Indonesia, and Spanish-speaking regions more than doubling year over year. Content viewership -- iQIYI secured top position in total viewership market share for long-form dramas according to Enlightened Data."
Total revenue was RMB 6.7 billion, up 1% sequentially driven by premium summer content. Membership services rose 3% to RMB 4.2 billion from blockbuster dramas and theatrical hits. Online advertising declined 2% to RMB 1.2 billion after a strong prior quarter. Distribution revenue grew 48% to RMB 644.5 million. Content cost increased 7% to RMB 4.0 billion while operating expenses fell 3% to RMB 1.3 billion. Non‑GAAP operating loss was RMB 21.9 million (0.3% margin). Cash and investments totaled RMB 4.9 billion, including a USD 582.5 million loan to PAG. International membership revenue grew over 40% in Brazil, Mexico and Indonesia. AI was applied across marketing and content operations.
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