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In 2020, Q4 has a revenue of 7.5 billion yuan and a net loss of 1.5 billion yuan From Iqiyi financial report

The following is the In 2020, Q4 has a revenue of 7.5 billion yuan and a net loss of 1.5 billion yuan From Iqiyi financial report recommended by recordtrend.com. And this article belongs to the classification: Industry information.

On February 18, NASDAQ released its unaudited results for the fourth quarter and full year of the fiscal year 2020 ending December 31. According to the report, iqiyi’s total revenue in the fourth quarter was 7.5 billion yuan (about 1.1 billion US dollars), down 1% year-on-year; its net loss was 1.5 billion yuan (about 237.2 million US dollars), compared with 2.5 billion yuan in the same period last year, narrowing the loss year on year.

According to Yahoo financial data, nine Wall Street analysts had expected iqiyi to lose $0.38 a share in the fourth quarter on average. According to the results, iqiyi made a diluted loss of 2.10 yuan (about $0.32) per American Depository Share in the fourth quarter, better than analysts expected.

In addition, 14 analysts had expected iqiyi’s fourth quarter revenue to reach $1.16 billion on average. According to the financial report, iqiyi’s total revenue in the fourth quarter was 7.5 billion yuan (about $1.1 billion), slightly lower than analysts’ expectations.

According to Yahoo financial data, 16 analysts had expected iqiyi to lose $1.51 per share in fiscal year 2020 on average. According to the financial report, iqiyi had a diluted loss of 9.52 yuan (about $1.47) per American Depository Share in fiscal year 2020, better than analysts expected.

In addition, 23 analysts had expected iqiyi’s revenue to reach $4.6 billion in fiscal year 2020 on average. According to the financial report, iqiyi’s total revenue in fiscal year 2020 is 29.7 billion yuan (about 4.6 billion US dollars), which is in line with analysts’ expectations.

Main results of the fourth quarter:

– iqiyi’s total revenue in the fourth quarter was 7.5 billion yuan (about US $1.1 billion), a year-on-year decrease of 1%;

– iqiyi’s operating loss in the fourth quarter was 1.3 billion yuan (about US $204 million), with an operating loss rate of 18%; in contrast, iqiyi’s operating loss in the same period last year was 2.5 billion yuan, with an operating loss rate of 34%;

Iqiyi’s net loss in the fourth quarter was 1.5 billion yuan (US $237.2 million), compared with a net loss of 2.5 billion yuan in the same period last year, narrowing the loss year on year. Iqiyi had a diluted loss of 2.10 yuan (about US $0.32) per American Depository Share in the fourth quarter, compared with 3.43 yuan per American Depository Share in the same period last year;

– as of December 31, 2020, iqiyi has 101.7 million subscribers and 100.7 million trial subscribers. By contrast, as of December 31, 2019, iqiyi had 106.9 million subscribers, excluding 105.7 million trial members.

Main achievements in 2020:

– iqiyi’s total revenue in fiscal year 2020 was 29.7 billion yuan (about 4.6 billion US dollars), up 2% year on year;

– iqiyi’s operating loss in fiscal year 2020 is RMB 6 billion (about US $925 million), with an operating loss rate of 20%; in contrast, iqiyi’s operating loss in fiscal year 2019 is RMB 9.3 billion, with an operating loss rate of 32%;

– iqiyi’s net loss in fiscal year 2020 was RMB 7 billion (about US $1.1 billion), compared with a net loss of RMB 10.3 billion in fiscal year 2019, narrowing the loss year on year. Iqiyi had a diluted loss of 9.52 yuan (about US $1.47) per ads in fiscal year 2020, compared with 14.14 yuan per ads in the same period last year.

Executive comments:

“The fourth quarter results are in line with our overall expectations.” Gong Yu, founder, director and CEO of iqiyi, said, “according to third-party data, iqiyi still maintains a leading position in providing key content including drama and variety shows. At the same time, we have made breakthroughs in original movies, smart screens and VR. In 2021, we will continue to provide users with more diversified high-quality content, while enhancing the value perception of paid members. We believe that with the recovery of the macro environment, these measures will contribute to the growth of subscription membership and (7.09, 0.06, 0.85%) revenue growth. “

“Our operating loss rate has narrowed significantly for three consecutive quarters year on year.” Wang Xiaodong, iqiyi’s chief financial officer, said, “we continue to seek content strategies that bring better return on investment and strictly control costs in a challenging macro environment. In December 2020, we completed the largest financing since IPO, which enables us to further improve the content supply and technology level. “

Operation highlights:

In 2020, iqiyi launched a series of initiatives to attract members to subscribe and pay for quality content. In the field of drama series, the success of the short drama theater mode of “fog theater” has driven the direction of focus creation based on circle in China’s film and television market. By 2020, the number of members of fog theater has exceeded 68 million. In the field of film, the high-level online pay on demand (PVOD) distribution mode is gradually mature. In 2020, 11 films will be launched on iqiyi in the form of single chip payment in the first time window. This year, two new films “Legend of Shaolin Temple” and “Diary of making a fortune”, starring Wang Baoqiang and song Xiaobao, will also be released online in the PVOD mode. In an interview, Tang Jili, director of “the legend of treasure in Shaolin Temple”, said that he was optimistic about the single chip payment mode. Tang Jili said: “if single chip payment can promote people’s consumption habits, I think it will be very helpful for the development of Chinese films in the future. The network platform can help to divide many movie themes, also help to cultivate a new generation of filmmakers, and provide good works for the audience. “

In 2020, while innovating the content creation and distribution mode, iqiyi has launched two key actions in the service mode. Last May, iqiyi launched Star Diamond VIP membership, including big screen and ecological membership rights. CITIC Securities believes that the overall willingness and ability of high-speed wire users to pay are stronger, and the more advanced member rights and interests help the company provide differentiated services for high-value users, thereby improving the ARPU value. In November, iqiyi raised the price of gold VIP members for the first time in nine years. After the adjustment, gold VIP members are divided into continuous monthly, monthly, quarterly, annual and annual cards. The prices are 19 yuan, 25 yuan, 58 yuan, 68 yuan, 218 yuan and 248 yuan respectively. These two measures will help to further enhance the payment value of single user and the ARPU value of members.

In terms of member service income / number of subscription members, the ARPU value of iqiyi members is 121.5 yuan in 2018, 134.9 yuan in 2019 and 162.2 yuan in 2020. In 2020, iqiyi member’s paid ARPU value will further increase; meanwhile, the ARPU value in the fourth quarter of 2020 will also achieve a year-on-year growth, which is in line with the previous management’s expectation to achieve the pay income growth by reducing sales promotion and value-added service innovation.

Fourth quarter financial analysis:

Iqiyi’s total revenue in the fourth quarter was 7.5 billion yuan (about US $1.1 billion), down 1% year on year.

Iqiyi’s member service revenue in the fourth quarter was 3.8 billion yuan (about 587.8 million US dollars), a year-on-year decrease of 1%, mainly due to the decrease in the number of subscribers from 106.9 million in the same period of last year to 101.7 million as of December 31, 2020.

Iqiyi’s revenue from online advertising services in the fourth quarter was 1.9 billion yuan (US $284.9 million), down 1% year on year.

Iqiyi’s content distribution revenue in the fourth quarter was 804.3 million yuan (about 123.3 million US dollars), a year-on-year decrease of 8%, mainly due to the decrease in cash transactions, which was partially offset by the increase in barter trade.

Iqiyi’s other revenue in the fourth quarter was 959.6 million yuan (about 147.1 million US dollars), up 10% year-on-year, mainly due to the growth of specific business lines.

Iqiyi’s revenue cost in the fourth quarter was 6.8 billion yuan (about 1 billion US dollars), down 14% from the same period last year, mainly due to lower content cost. Iqiyi’s content cost in the fourth quarter was 5.1 billion yuan (about 786.1 million US dollars), down 10% year on year. This decline is due to lower recognition costs for producing content, the introduction of more and shorter content to meet diverse user needs, and the updating of accounting estimates of future audience consumption patterns and the service life of content assets to better reflect the expected use of these content assets.

Iqiyi’s fourth quarter sales, general affairs and administrative expenses were 1.3 billion yuan (about 201.9 million US dollars), a year-on-year decrease of 6%. This decline is mainly due to lower marketing spending.

Iqiyi’s R & D expenditure in the fourth quarter was 663.4 million yuan (about US $101.7 million), a year-on-year decrease of 7%, mainly due to the decrease of R & D personnel related salary expenditure.

Iqiyi’s operating loss in the fourth quarter was 1.3 billion yuan (US $204 million), compared with 2.5 billion yuan in the same period last year. Iqiyi’s operating loss rate was 18% in the fourth quarter, compared with 34% in the same period last year.

Iqiyi’s other expenses totaled 241 million yuan (about $36.9 million) in the fourth quarter, compared with 75.3 million yuan in other income in the same period last year. This year-on-year difference is mainly due to the decrease in foreign exchange earnings.

Iqiyi had a loss of 1.5 billion yuan (US $237.3 million) before paying income tax in the fourth quarter, compared with a loss of 2.5 billion yuan before paying income tax in the same period last year.

Iqiyi’s income tax income in the fourth quarter was 16.3 million yuan (US $2.5 million), compared with 22.6 million yuan in the same period last year.

Iqiyi had a net loss of 1.5 billion yuan (US $237.2 million) in the fourth quarter, compared with a net loss of 2.5 billion yuan in the same period last year, narrowing the loss year on year. Iqiyi had a diluted loss of 2.10 yuan (US $0.32) per American Depository Share in the fourth quarter, compared with 3.43 yuan per American Depository Share in the same period last year.

As of December 31, 2020, iqiyi’s total cash, cash equivalents, restricted cash and short-term investments amounted to 14.3 billion yuan (about 2.2 billion US dollars).

Financial analysis in 2020:

Iqiyi’s total revenue in fiscal year 2020 was 29.7 billion yuan (about 4.6 billion US dollars), up 2% year on year.

Novel coronavirus pneumonia in Iqiyi in fiscal year 2020, revenue of RMB 16 billion 500 million yuan (US $2 billion 500 million), an increase of 14% over the previous year, mainly due to the increase in subscriber membership in the first half of 2020, and the Iqiyi exclusive distribution and various operational initiatives during the year.

Iqiyi’s revenue of online advertising services in fiscal year 2020 was 6.8 billion yuan (about 1 billion US dollars), a year-on-year decrease of 18%. This decline is mainly due to the impact of China’s challenging macroeconomic environment.

Iqiyi’s revenue of content distribution in fiscal year 2020 was 2.7 billion yuan (about US $407.7 million), a year-on-year increase of 5%.

Iqiyi’s other revenue in fiscal year 2020 was 3.7 billion yuan (about 572.3 million US dollars), basically the same as that of the same period last year.

Iqiyi’s revenue cost in fiscal year 2020 was 27.9 billion yuan (about 4.3 billion US dollars), 8% lower than that in fiscal year 2019, mainly due to the decrease of content cost and other cost items. Iqiyi’s content cost in fiscal year 2020 was 20.9 billion yuan (about 3.2 billion US dollars), a year-on-year decrease of 6%. This decline is due to lower recognition costs for producing content, the introduction of more and shorter content to meet diverse user needs, and the updating of accounting estimates of future audience consumption patterns and the service life of content assets to better reflect the expected use of these content assets.

Iqiyi’s expenditure on sales, general affairs and administration in fiscal year 2020 was RMB 5.2 billion (about US $795.1 million), a year-on-year decrease of 1%, mainly due to the decrease in marketing expenditure.

Iqiyi’s R & D expenditure in fiscal year 2020 was 2.7 billion yuan (about US $410 million), which was basically flat on a year-on-year basis, mainly due to the decrease of R & D personnel related salary expenditure, which was offset by the increase of equity incentive expenditure.

Iqiyi’s operating loss in fiscal year 2020 was 6 billion yuan (about 925.7 million US dollars), compared with 9.3 billion yuan in fiscal year 2019. Iqiyi’s operating loss rate was 20% in fy2020, compared with 32% in fy2019.

Iqiyi’s total other expenditure in fiscal year 2020 was 943.4 million yuan (about 144.6 million US dollars), compared with 967.1 million yuan in fiscal year 2019.

Iqiyi had a loss of RMB 7 billion (US $1.1 billion) in fiscal year 2020 before paying income tax, compared with a loss of RMB 10.2 billion in fiscal year 2019 before paying income tax.

Iqiyi’s income tax expenditure in fiscal year 2020 was 23.3 million yuan (about 3.6 million US dollars), compared with 51.9 million yuan in fiscal year 2019.

Iqiyi’s net loss in fiscal year 2020 was RMB 7 billion (about US $1.1 billion), compared with a net loss of RMB 10.3 billion in fiscal year 2019, narrowing the loss year on year. Iqiyi had a diluted loss of 9.52 yuan (about US $1.47) per ads in fiscal year 2020, compared with 14.14 yuan per ads in the same period last year.

Performance Outlook:

Iqiyi expects net revenue to reach 7.07 billion yuan (about 1.08 billion US dollars) to 7.53 billion yuan (about 1.15 billion US dollars) in the first quarter of fiscal 2021, down 2% to 8% year on year. This expectation reflects iqiyi’s current and preliminary views, and there is great uncertainty.

According to the data collected by Yahoo Finance, seven Wall Street analysts on average expect iqiyi’s revenue to reach $1.13 billion in the first quarter of fiscal 2021. (source: sina science and Technology) more reading: iqiyi Duan Youqiao: eight trends of Internet TV industry iqiyi: data interpretation “you from the stars” – information chart iqiyi financial report: in 2018 Q2, iqiyi’s total revenue was 6.2 billion yuan Net loss of RMB 2.1 billion iResearch: average daily coverage of iqiyi reached 21.331 million in a week from July 16 to July 22, 2012 leading data: how fast does iqiyi’s membership increase in the second quarter of 2018? Iqiyi: 3q20 revenue 7.2 billion yuan, loss narrowed year on year? Which businesses make the most money? Iqiyi earnings report: 2018 Q1 Iqiyi Revenue $777 million 600 thousand, an increase of 57% compared with the previous year, Iqiyi’s best stock prospectus: every user sees 1.7 hours of video content, Iqiyi 4 years huge losses 7 billion, want to say love you is not easy, Iqiyi 4 years lost 7 billion, video business is not easy to Iqiyi: 3Q20 earnings call conference record Baidu’s acquisition of YY live broadcast has no direct impact on iqiyi. Emarketer: 24.0% of China’s online TV viewers in 2018 subscribe to Tencent video iqiyi: 2019 virtual idol observation report (with download) iqiyi: 2q20 financial report teleconference record sec is an internal secret investigation, and the management has confidence in the investigation results

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