iQIYI Announces First Quarter 2021 Financial Results
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CLSA Upgrades iQIYI (IQ) to Outperform (2)
May 18, 2021 4:05 PM EDTCLSA analyst Elinor Leung upgraded iQIYI (NASDAQ: IQ) from Underperform (4) to Outperform (2) with a price target of $16.00 (from $25.50).
THe analyst comments "iQIYIs 1Q21 results beat estimates but its 2Q guidance was weak. Total revenue grew 4.2% YoY to Rmb8bn, 2.3% above our... More
iQIYI (IQ) Tops Q1 EPS by 11c, Revenues Beat; Offers 2Q Revenues Outlook Below Consensus
May 18, 2021 5:59 AM EDTiQIYI (NASDAQ: IQ) reported Q1 EPS of ($0.25), $0.11 better than the analyst estimate of ($0.36). Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.18 billion.
First Quarter 2021 Highlights
Total revenues were RMB8.0 billion (US$1.2 billion[1]), representing a 4% increase from the same period in 2020.Operating loss was RMB1.0 billion (US$154.8 million) and operating loss margin was 13%, compared to operating loss of RMB2.2 billion and operating loss margin of 29% in the same period in 2020.Net loss attributable to iQIYI was RMB1.3 billion (US$193.4 million), compared to net loss... More