iQIYI Inc., a leading provider of online entertainment video services in China, announced its unaudited financial results for the first quarter ended March 31, 2025. The company reported total revenues of RMB7.19 billion (US$990.3 million), reflecting a 9% decrease year over year. Operating income for the period was RMB341.9 million (US$47.1 million), with an operating income margin of 5%, compared to operating income of RMB944.8 million and an operating income margin of 12% in the same period in 2024. Net income attributable to iQIYI was RMB182.1 million (US$25.1 million), a decrease from RMB655.3 million in the first quarter of 2024. Non-GAAP net income attributable to iQIYI was RMB304.4 million (US$42.0 million), compared to RMB844.3 million in the same period in 2024. Income before income taxes was RMB227.2 million (US$31.3 million), down from RMB683.5 million in the same period last year. The company noted a decline in net interest expense over the last six quarters, highlighting efforts to optimize capital structure and enhance financial flexibility. iQIYI's long-form dramas continued to lead in total viewership market share, while micro dramas showed notable growth in viewership and engagement during the quarter.