Lei Jianping reported on March 1
iQIYI (NASDAQ:IQ) today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2021.
According to the financial report, iQIYI's total revenue in 2021 reached 30.6 billion yuan, an increase of 3% year-on-year, and the annual non-GAAP operating loss was 3 billion yuan, and the operating loss ratio narrowed from 15% in the same period last year to 10%. Among them, the operating loss of non-GAAP in the fourth quarter of 2021 was 520 million yuan, and the operating loss ratio narrowed significantly to 7% from 13% in the same period last year.
Gong Yu, founder and CEO of iQIYI, said, "We hope shareholders can notice that iQIYI has taken the lead in opening a new stage in China's long video industry. Starting in the fourth quarter of 2021, we have taken a series of measures to reduce costs and increase efficiency and optimize the organizational structure, and the results have been very encouraging. Our operational efficiency and ROI have improved significantly, while the company's user metrics remain industry-leading. ”
Gong Yu said, "Our goal is to achieve break-even at the non-GAAP operational level for the whole of 2022 while maintaining the leading position in the industry, and to achieve the break-even of the quarterly non-GAAP operational level as soon as possible." It is gratifying to see that we are making smooth progress in this direction. ”
Wang Jun, chief financial officer of iQIYI, said, "Our cost reduction and efficiency increase strategy has begun to bear fruit, and iQIYI's operating loss in the fourth quarter fell by 25% year-on-year and 29% month-on-month. Non-GAAP operating losses fell sharply in the fourth quarter, down 45% year-over-year and down 52% sequentially, beating expectations. ”
Wang Jun said, "In the first quarter of 2022, we expect the company's GAAP and non-GAAP operating losses to improve further significantly compared to the fourth quarter of 2021. Improvements in the company's business fundamentals will support us in maintaining our industry leadership and achieving long-term sustained growth in our business. ”
Affected by the positive financial report, iQiyi rose 5% before the market.
iQIYI's Q4 revenue of 7.4 billion yuan was basically unchanged from the same period last year
iQiyi's revenue for the fourth quarter of 2021 was 7.4 billion yuan, basically the same as the same period last year.
iQIYI Q4 member revenue of 4.1 billion yuan increased by 7% year-on-year
In the fourth quarter of 2021, thanks to the increase in average monthly single member revenue (ARM's calculation formula is: total subscription membership revenue in the current quarter / total number of daily subscription members in the quarter), iQIYI's membership service revenue was 4.1 billion yuan, an increase of 7% year-on-year.
iQIYI continues to provide members with high-quality content and value-added rights, enhance the attractiveness of membership services to users, and drive arm growth.
iQIYI's membership service revenue in 2021 is 16.7 billion yuan. The annual advertising revenue was 7.1 billion yuan, an increase of 4% year-on-year. Full-year content distribution revenue totaled RMB2.9 billion, up 7% year-on-year. Other revenue for the full year reached $3.9 billion, up 5% compared to the same period last year.
In the face of the delay in the broadcast of some high-quality content and the challenge of the macroeconomic environment, the online advertising business still achieved revenue of 1.7 billion yuan in the fourth quarter;
iQIYI's content distribution business achieved revenue of 760 million yuan in the fourth quarter, and other revenue reached 840 million yuan in the fourth quarter.
iQIYI Q4 cost 6.5 billion yuan year-on-year 4% year-on-year
iQiyi's cost in the fourth quarter of 2021 was 6.5 billion yuan, down 4% year-on-year, mainly due to the decline in content costs.
iQIYI's content costs for the fourth quarter of 2021 were RMB4.9 billion, down 5% compared to the same period in 2020, and the decline in content costs was driven by the company's continued efforts to reduce costs and increase efficiency.
As an important part of the cost of revenue, the full year of 2021 content cost was 20.7 billion yuan, down 1% compared to 2020.
iQIYI Q4 gross profit of 889 million gross margin 12%
iQIYI's gross profit for the fourth quarter of 2021 was RMB889 million, with a gross profit margin of 12%.
iQIYI Q4 expenses of 1.864 billion yuan, down 6% year-on-year
iQIYI's expenses for the fourth quarter of 2021 were RMB1,864 million, down 6% from RMB1.98 billion in the year-ago quarter.
iQIYI's sales and personnel management expenses for the fourth quarter of 2021 were RMB1.1 billion, down 17% from the same period last year, and research and development expenses were RMB763 million, up 15% from the same period last year
iQiyi's Q4 operating loss of 980 million yuan narrowed sharply year-on-year
iQIYI's operating loss for the fourth quarter of 2021 was RMB980 million, compared to RMB1.3 billion in the same period in 2020, with operating losses down 25% year-on-year and 29% sequentially. The operating loss ratio narrowed to 13% from 18% in the same period in 2020.
iQIYI's operating loss in 2021 was 4.5 billion yuan, compared with 6 billion yuan in 2020, and the annual operating loss ratio narrowed to 15% compared with 20% in 2020.
iQIYI Q4 made an adjusted loss of 520 million
iQIYI's non-GAAP operating loss in the fourth quarter of 2021 was 520 million yuan, compared with 940 million yuan in the same period last year, and non-GAAP operating loss decreased by 45% year-on-year and 52% sequentially.
iQIYI's non-GAAP operating loss for the whole year of 2021 was 3 billion yuan, compared with 4.5 billion yuan in 2020, and the non-GAAP operating loss ratio narrowed from 15% in the previous year to 10%. Non-GAAP operating losses decreased 32% year-over-year.
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Lei Di was founded by veteran media person Lei Jianping, if reprinted, please indicate the source.