Leading Chinese video streaming platform iQiyi reported RMB 7.5 billion ($1.1 billion) in revenue in the third quarter of 2022, a 2% yearly decrease but a figure that saw the company surpass the highest estimation of Yahoo Finance’s analysts. The firm’s net loss narrowed from RMB 1.7 billion to RMB 395.6 million in a year. iQiyi’s non-GAAP net income for the quarter was RMB 187.2 million, up 139% compared to the previous quarter. This is the fourth consecutive quarter that the firm reported a non-GAAP net income. Its subscriber numbers climbed to 106.2 million by September 30, up 11% on the same date last year, which the company said was due to the launch of key titles; membership services revenue decreased 2% in a year to RMB 4.2 billion in the reported quarter. “Our original blockbusters drove significant net subscriber additions within the quarter, further expanding our market leadership. As a result, we achieved operating profit growth while continuing to gain market share,” said Yu Gong, founder, director, and CEO of iQiyi. [iQiyi, press release]