Why iQiyi Is Turning to Artificial Intelligence - Market Realist

The digital video company, which split from Baidu (BIDU), has been seeing losses since going public in the US last March. In this year's first quarter, the company's net loss jumped year-over-year to $270.3 million from $63.1 million as operating costs soared. In contrast, Tencent (TCEHY) made a profit of $4.1 billion in the first quarter, and Tencent Music (TME), a digital music company that split from Tencent and went public in December, posted a profit of $147 million. Chinese e-commerce leader Alibaba (BABA), into the movie and video streaming business through its Alibaba Pictures and Youku units, made a profit of $3.8 billion in the first quarter, and Netflix (NFLX) and Amazon (AMZN) made profits of $344 million and $3.6 billion, respectively. Amazon is also into video streaming, although its main operations are e-commerce.