iQIYI Announces Second Quarter 2019 Financial Results

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Go back to iQIYI Announces Second Quarter 2019 Financial Results

CLSA Downgrades iQIYI (IQ) to Outperform

August 20, 2019 9:12 AM EDT

CLSA analyst Elinor Leung downgraded iQIYI (NASDAQ: IQ) from Buy to Outperform with a price target of $21.00 (from $26.50).

For an analyst ratings summary and ratings history on iQIYI click here. For more ratings news on iQIYI click here.

Shares of iQIYI closed at $16.50 yesterday.

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iQIYI (IQ) Misses Q2 EPS by 5c, Revenues Beat; Offers Q3 Revenue Guidance Below Consensus

August 19, 2019 5:03 PM EDT

iQIYI (NASDAQ: IQ) reported Q2 EPS of ($0.49), $0.05 worse than the analyst estimate of ($0.44). Revenue for the quarter came in at $1 billion versus the consensus estimate of $996.87 million.

Second Quarter 2019 Highlights

Total revenues were RMB7.1 billion (US$1.0 billion1), representing a 15% increase from the same period in 2018.Operating loss was RMB1.9 billion (US$272.6 million) and operating loss margin was 26%, compared to operating loss of RMB1.3 billion and operating loss margin of 22% in the same period in 2018.Net loss attributable to iQIYI was RMB2.3 billion (US$339.0 million), compared to net loss... More