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Chinese Streamer iQiyi Increases Profits in First Quarter
Chinese video streamer iQiyi increases profits in the first quarter as subscription revenues and content spending fall.
“We have been generating positive operating cash flow for eight consecutive quarters, and our balance sheet continued to improve,” said Wang Jun, the company’s chief financial officer. And, while iQiyi has recently made play of building up its operations in Southeast Asia, it also chooses not to provide any geographical analysis of its subscribers, the value of its ex-China subscriptions or its overseas ad sales revenues. The company did not explain the decision to end disclosure of subscriber data, but said that the decrease in subscription revenue “was primarily due to the high base effect in the same period last year.”
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