iQiyi Chinese Streamer Adds 17 Million Subscribers in First Quarter
variety.comPatrick Frater Asia Bureau Chief iQiyi, the Chinese video streamer that began a turnaround last year, reported further growth in profits in the first quarter of 2023.
It said that daily subscription numbers had grown by 17 million in the past three months. Total revenues were RMB8.3 billion ($1.2 billion), increasing 15% year over year, the company said in a regulatory filing on Tuesday that covered the January to March period.
Net income attributable to iQIYI was RMB618 million ($90.0 million), compared to net income attributable to iQIYI of RMB169 million in the same period in 2022.
The average daily number of subscribing members, excluding trial memberships, for the quarter was 128.1 million, compared to 100.8 million for the same period in 2022 and 110.9 million for the fourth quarter in 2022.
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