iQiyi (IQ)

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“We are pleased to report a set of solid results for the first quarter of 2018,” commented Dr. Yu Gong, Founder and Chief Executive Officer of iQIYI. “Both of our major business pillars, advertising services and membership services, generated significant growth driven by our premium content, especially a series of successful self-produced variety shows launched during the quarter. Our recent IPO positions us well for the exciting future ahead as iQIYI now enjoys higher brand recognition with increasingly more partners and artists around the world seeking to collaborate with us. Going forward, we will continue to strategically allocate our resources and bandwidth to original content production and technology innovation as we aspire to become a technology-based entertainment giant.”
“Our strong first quarter performance was marked by a 57% year-over-year growth in total revenues, and better-than-expected improvement on our bottom line,” commented Xiaodong Wang, Chief Financial Officer of iQIYI. “The financial results reflect enhanced monetization and operating efficiency across our various business lines during the quarter. With the capital raised via our IPO, we are more confident than ever to capture the tremendous opportunities in the fast-growing entertainment industry and deliver long-term value to our shareholders. ”