IQIYI (NASDAQ:IQ) stock was skyrocketing on Tuesday as the company reported its latest quarterly earnings results, which included a revenue increase of more than 50% compared to the year-ago quarter.

The Chinese company said that its total revenues for the second quarter of its fiscal 2018 came in at RMB6.2 billion ($932.5 million), which marked a 51% gain compared to the year-ago quarter. The company added that its operating loss for the period came in at RMB1.3 billion ($200.7 million), while its operating loss margin was 22%, which is worse than its year-ago operating loss of RMB990.7 million and operating loss margin of 24% in the year-ago quarter.

IQIYI added that its net loss for the period was RMB2.1 billion ($316.9 million), which is more than twice of the RMB953.2 million in net loss that it amassed during the year-ago quarter. The company’s diluted net loss per ADS was RMB3.01 (45 cents).

Its total subscribing members reached 67.1 million by the end of the quarter, which marked a 75% increase compared to the 38.3 million from the year-ago quarter. The number of paying subscribing members was 66.2 million by the end of the period.

“We are pleased to deliver another strong quarter of financial and operational results,” said Dr. Yu Gong, Founder, Director and CEO of iQIYI. “Supported by our vast library of premium content, and the premiere of a series of highly popular self-produced content, our membership and advertising businesses both generated robust growth during the quarter, with the total number of subscribing members reaching a new record high.”

IQ stock was skyrocketing nearly 8% after the bell on Tuesday following the company’s strong quarterly earnings showing. Shares were up about 4.2% during regular trading hours in anticipation of the company’s results.