Iqiyi (IQ.US) surges over 7% as it notches three consecutive years of operating profitability.

On Friday, iQIYI (IQ.US) rose more than 7% to US$2.34. iQIYI recently released its 2024Q4 and full-year financial report. The full-year revenue was RMB29.23bn, and the non-GAAP (non-US generally accepted accounting principles) operating profit was RMB2.36bn, with a non-GAAP operating margin of 8%, achieving operating profits for three consecutive years. Among them, iQIYI's total revenue in the fourth quarter was RMB6.61bn, and the non-GAAP operating profit was RMB410mn, with a non-GAAP operating margin of 6%.

Founder and CEO of iQIYI Gony said in the earnings conference call that the strong comeback of high-quality long videos and continuous innovation in the micro-series field will become the double engine to drive continuous growth in 2025. iQIYI will continue to improve the quality and market share of its leading content to increase member revenue and expand advertising inventory through the development of micro-series business to increase advertising revenue. The "long + short" double engine will help iQIYI achieve sustainable revenue growth.