Chinese video streaming company iQiyi reported a significant decline in its financial performance for the second quarter. The company's revenue decreased by 5% year-over-year to approximately $1.04 billion, while its net profit plummeted by 80% to around $9.6 million. The decline in profits is attributed to a drop in subscription revenue for the second consecutive quarter. Following the earnings announcement, iQiyi's stock fell by 15.6%. In contrast, fellow Chinese streamer Bilibili reported a 16% increase in revenue to CNY6.1 billion (USD857.6 million) and a 61% narrowing of its net loss to CNY608 million (USD85 million). Bilibili's advertising revenue also rose by 30%. Despite the positive earnings, Bilibili's stock dropped by 7.6%. Bilibili reported Q2 revenue growth of 16% year-over-year and experienced a pre-market gain of 3.0%.