iQIYI, Inc. (NASDAQ:IQ) Q2 2023 Results Conference Call August 22, 2023 8:00 AM ET

Company Participants

Chang You - Director of Investor Relations

Yu Gong - Founder, Director & Chief Executive Officer

Jun Wang - Chief Financial Officer

Xiaohui Wang - Chief Content Officer

Wenfeng Liu - Chief Technology Officer

Youqiao Duan - Senior Vice President, Membership Business

Gang Wu - Senior Vice President of Brand Advertising Business

Conference Call Participants

Xueqing Zhang - CICC

Lei Zhang - Bank of America Securities

Alicia Yap - Citigroup

Lincoln Kong - Goldman Sachs

Maggie Ye - CLSA

Operator

Thank you for standing by and welcome to the iQIYI Second Quarter 2023 Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Chang You, IR Director of the Company. Please go ahead.

Chang You

Thank you, operator. Hello, everyone and thank you for joining iQIYI second quarter 2023 earnings conference call. The Company's results were released earlier today and are available on the Company's Investor Relations website at ir.iqiyi.com.

On the call today are Mr. Yu Gong, our Founder, Director and CEO; Mr. Jun Wang, our CFO; Mr. Xiaohui Wang, our CCO, Chief Content Officer; Mr. Wenfeng Liu, our CTO, Chief Technology Officer; Mr. Youqiao Duan, Senior Vice President of our Membership Business and Mr. Gang Wu of Senior Vice President of Brand Advertising Business. Mr. Gong will give a brief overview of the Company's business operations and highlights, followed by Jun, who will go through the financials. After the prepared remarks, management team will participate in the Q&A session.

Before we proceed, please note that the discussion today will contain forward-looking statements, made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include but are not limited to, those outlined in our public filings with the SEC. iQIYI does not undertake any obligation to update any forward-looking statement except as required under applicable law.

I will now pass on the floor to Mr. Gong. Please go ahead.

Yu Gong

Hello everyone. Thank you for joining us today. Our focus of the quarter remains firmly on generating high-quality growth. Our original company strategy continues to deliver top-notch titles, which in turn brought the strongest second quarter performance in our history in terms of key metrics, such as total revenues, profits, free cash flow, and average daily subscribers during the quarter. Also, we maintain our industry-leading position of long run, key aspects the exception of quarterly results clearly demonstrates the resilient unmet demand, a long-term growth potential of our business.