iQIYI (IQ) Operating Expenses (2017 - 2026)
iQIYI (IQ) posted Operating Expenses of -$938.7 million for Q2 2026, down 0.74% on a QoQ basis from -$931.8 million in Q1 2026, and down 1.73% year-over-year from -$955.2 million in Q2 2025.
Analysis
iQIYI (IQ) Operating Expenses (2017 - 2026) Analysis & Trends
iQIYI has reported Operating Expenses for 10 years, with the latest figure at -$938.7 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 1.73% year-over-year to -$938.7 million in Q2 2026; TTM through Jun 2026 was -$3.8 billion, a 1.3% decrease from a year earlier, with the FY2025 full-year figure at -$3.9 billion, down 3.04% from the prior year.
- Operating Expenses was -$938.7 million for Q2 2026 at iQIYI, down from -$931.8 million in the prior quarter.
- The five-year high for Operating Expenses was -$881.0 million in Q4 2024, with the low at -$1.1 billion in Q1 2022.
- Average Operating Expenses over 5 years is -$981.5 million, with a median of -$969.7 million recorded in 2023.
- The sharpest annual moves came in 2022 and 2025: Operating Expenses gained 26.81% in 2022, then fell 7.85% in 2025.
- Over 5 years, Operating Expenses stood at -$957.4 million in 2022, then retreated by 0.57% to -$962.9 million in 2023, then climbed by 8.51% to -$881.0 million in 2024, then decreased by 7.85% to -$950.1 million in 2025, then rose by 1.2% to -$938.7 million in 2026.
- The last three Operating Expenses figures came in at -$938.7 million (Q2 2026), -$931.8 million (Q1 2026), and -$950.1 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 321.15 Bn | 312.02 Bn | 6.52 Bn | 1.51 Bn |
| 2 | Spotify Technology | 108.56 Bn | 97.65 Bn | 1.86 Bn | 640.46 Mn |
| 3 | Tencent Music Entertainment | 12.38 Bn | 8.87 Bn | 582.00 Mn | -191.00 Mn |
| 4 | Huya | 485.14 Mn | 124.88 Mn | 37.58 Mn | -39.77 Mn |
| 5 | iQIYI | 427.67 Mn | -43.23 Mn | 152.37 Mn | -938.70 Mn |
| 6 | FuboTV | 324.08 Mn | -128.33 Mn | 399.10 Mn | 344.01 Mn |
| 7 | Kaltura | 221.37 Mn | 190.08 Mn | 34.54 Mn | 35.31 Mn |
| 8 | CuriosityStream | 157.45 Mn | 109.05 Mn | 16.93 Mn | 14.07 Mn |
| 9 | Cineverse | 47.34 Mn | 43.02 Mn | 10.66 Mn | 35.72 Mn |
| 10 | LiveOne | 46.60 Mn | 37.94 Mn | 3.94 Mn | 23.03 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -938.70 Mn |
| Mar 31, 2026 | -931.80 Mn |
| Dec 31, 2025 | -950.12 Mn |
| Sep 30, 2025 | -950.67 Mn |
| Jun 30, 2025 | -922.76 Mn |
| Mar 31, 2025 | -941.58 Mn |
| Dec 31, 2024 | -880.95 Mn |
| Sep 30, 2024 | -977.65 Mn |
| Jun 30, 2024 | -980.31 Mn |
| Mar 31, 2024 | -976.49 Mn |
| Dec 31, 2023 | -962.87 Mn |
| Sep 30, 2023 | -1.00 Bn |
| Jun 30, 2023 | -1.03 Bn |
| Mar 31, 2023 | -1.09 Bn |
| Dec 31, 2022 | -957.42 Mn |
| Sep 30, 2022 | -1.05 Bn |
| Jun 30, 2022 | -990.37 Mn |
| Mar 31, 2022 | -1.13 Bn |
| Dec 31, 2021 | -1.31 Bn |
| Sep 30, 2021 | -1.38 Bn |