iQIYI, Inc. (IQ) gained in the current market after announcing its fourth quarter and fiscal 2021 results. IQ values at $5.09, gaining more than 22.90% compared to yesterday’s closing price. The stock closed at $4.14 at the end of the last trading session. The stock volume traded in the previous trading session was around 10.39 million shares. The current market cap of the company is about $3.17 billion.
IQ: Q4 and Fiscal 2021 Key Financials
- iQIYI, Inc.’s revenue in Q4 2021 was RMB 7.3 billion. It is a slight decrease compared to the revenue of RMB 7.4 billion in Q4 2020.
- Fiscal 2021 revenue was RMB 30 billion, slightly more than the revenue of RMB 29.7 billion in fiscal 2020.
- The company’s net loss in Q4 2021 was around RMB 1.7 billion, more than compared to the net loss of RMB 1.5 billion in Q4 2020.
- IQ net loss in fiscal 2021 was around RMB 6.1 billion, less than compared to the net loss of RMB 7 billion in fiscal 2020.
- The Q4 2021 loss per share was RMB 0.32, compared to a net loss of RMB 0.30 of Q4 2020.
- For fiscal 2021, the loss per share was RMB 1.11, compared to RMB 1.36 in fiscal 2020.
IQ CEO’s Remarks
Mr. Yu Gong, Founder, Director, and CEO of iQIYI, said that iQIYI is leading a new chapter in the Chinese long-form video business. We began several cost-cutting and organizational-alignment measures in the fourth quarter of 2021. The findings are favorable. We increased our operations and cost efficiency while keeping our industry-leading user metrics. I am pleased to see we are on the right track.
IQ 2022 Guidance
Mr. Yu Gong further commented that we aim to achieve full-year non-GAAP operating break-even in 2022 and quarterly non-GAAP operational break-even as soon as feasible while preserving our competitive edge.
Conclusion
The company is looking forward to strengthening its completive edge and increasing its market share. The revenue of the company slightly increased in fiscal 2021.
