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1、 iQIYI Announces First Quarter 2024 Financial Results BEIJING,CHINA,May 16,2024 iQIYI,Inc.(Nasdaq:IQ)(iQIYI or the Company),a leading provider of online entertainment video services in China,today announced its unaudited financial results for the first quarter ended March 31,2024.First Quarter 2024

2、Highlights Total revenues were RMB7.9 billion(US$1.1 billion1),decreasing 5%year over year.Operating income was RMB944.8 million(US$130.8 million)and operating income margin was 12%,compared to operating income of RMB858.6 million and operating income margin of 10%in the same period in 2023.Non-GAAP

3、 operating income2 was RMB1.1 billion(US$150.4 million)and non-GAAP operating income margin was 14%,compared to non-GAAP operating income of RMB1.0 billion and non-GAAP operating income margin of 12%in the same period in 2023.Net income attributable to iQIYI was RMB655.3 million(US$90.8 million),com

4、pared to net income attributable to iQIYI of RMB618.1 million in the same period in 2023.Non-GAAP net income attributable to iQIYI2 was RMB844.3 million(US$116.9 million),compared to non-GAAP net income attributable to iQIYI of RMB939.5 million in the same period in 2023.“Our operating profits and c

5、orresponding margins reached historical highs,thanks to our quality execution and increased operating efficiency,”commented Mr.Yu Gong,Founder,Director,and Chief Executive Officer of iQIYI.“The initial integration of generative AI into our operations is already yielding promising results.We are eage

6、r to harness the power of this innovative technology to improve our capacity for delivering top-tier content and to expand our growth possibilities.”“We have been generating positive operating cash flow for eight consecutive quarters,and our balance sheet continued to improve,”commented Mr.Jun Wang,