Iqiyi Inc (IQ) has released an update.
iQIYI, Inc., a leading Chinese online entertainment service provider, reported a 5% year-over-year decrease in total revenues for Q1 2024, reaching RMB 7.9 billion. Despite the revenue dip, the company saw a 10% increase in operating income to RMB 944.8 million and a 6% rise in net income to RMB 655.3 million, highlighting improved operational efficiency and the successful integration of generative AI technologies.
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