Chinese streaming platform iQIYI released its fourth-quarter and full-year 2025 financial results, revealing mixed performance marked by slowing revenue growth and a sharp reversal in profitability. Fourth-quarter revenues reached RMB6.79 billion, representing modest 3% year-over-year growth, while operating income contracted significantly to RMB55.4 million compared to RMB285.4 million in the prior-year period.
Full-year 2025 results reflect more pronounced headwinds. Annual revenues declined 7% to RMB27.29 billion, while the company swung from a net income position of RMB764.1 million in 2024 to a net loss of RMB206.3 million. Management attributed the deterioration to macroeconomic pressures constraining advertiser spending and a reduced content release schedule during the year.
Despite the challenging financial backdrop, iQIYI identified bright spots within its business portfolio. The company noted progress in international operations and its experience business segment, which it characterized as emerging growth drivers. These segments represent the company's strategic efforts to diversify revenue streams and offset headwinds in its core domestic streaming business.