iQIYI reports Q1 2026 revenue down 13% with a net loss of $42.7M amid content and advertising challenges.

iQIYI announced its Q1 2026 financial results showing total revenues of RMB6.23 billion (US$902.5 million), a 13% decline year-over-year, driven by reduced content offerings and lower advertising revenue. The company posted an operating loss of RMB228.4 million (US$33.1 million) and a net loss attributable to iQIYI of RMB294.6 million (US$42.7 million), reversing from net income in the prior year. Despite these setbacks, iQIYI highlighted growth in overseas membership revenue and plans to leverage AI to reduce content costs and accelerate production. The company also initiated a share repurchase program and proposed a Hong Kong Stock Exchange listing to enhance shareholder value.