iQiyi shares drop after Oppenheimer downgrades on subscriber concerns [MarketWatch]
iQIYI, Inc. - American Depositary Shares (IQ)
Last iqiyi, inc. - american depositary shares earnings: 2/27 04:30 pm
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Source: MarketWatch
U.S.-listed shares of Chinese streaming company iQiyi Inc. are off more than 4% in premarket trading Thursday after Oppenheimer analyst Bo Pei downgraded the stock to perform from outperform. He worries that the company could see a "meaningful decline in subscribers" for the second quarter given indications of weak viewership trends. The company's content costs "are relatively inflexible regardless of subscriber count," Pei wrote. He said that the consensus forecast does model some degree of viewership declines since Chinese society has been reopening after the winter wave of COVID-19 cases but Pei argued that consensus numbers underestimate the depth of the declines. He expects more "highly-anticipated content" in the third quarter that could reignite subscriber momentum. IQiyi's U.S.-listed shares have rallied 48% over the past month while the S&P 500 has risen 3% and the KraneShares CSI China Internet ETF has gained 25%. The shares have seen recent momentum amid a report that Tence
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IQ
News
- iQIYI Launches Over 300 Titles at 2024 World Conference, Fueling Growth with Diverse Content and Robust IP MonetizationPR Newswire
- iQIYI Launches Over 300 Titles at 2024 World Conference, Fueling Growth with Diverse Content and Robust IP MonetizationPR Newswire
- Are Investors Undervaluing iQIYI (IQ) Right Now? [Yahoo! Finance]Yahoo! Finance
- China's ‘Netflix' iQiyi pivots toward an aging population in an AI era [CNBC]CNBC
- iQIYI to Report First Quarter 2024 Financial Results on May 16, 2024GlobeNewswire
IQ
Earnings
- 2/28/24 - Beat
IQ
Sec Filings
- 3/15/24 - Form 144
- 3/14/24 - Form 20-F
- 2/29/24 - Form 6-K
- IQ's page on the SEC website