iQIYI's 2025 revenue falls 7%, but Q4 shows recovery; 2026 focuses on AI and overseas growth.

In 2025, iQIYI's revenue declined 7% to RMB 27.29 billion with a net loss of RMB 206.3 million, ending its profitability streak. Despite challenges like intensified competition and user decline, Q4 saw a 3% revenue increase and a 13% rise in ARPU, driven by hit content such as "Strange Tales of Tang Dynasty 3." In 2026, iQIYI is accelerating innovation with AI technology, expanding overseas, and growing offline presence to break its loss cycle and boost growth.