Monday, November 16, 2020 5:07:37 PM
2020-11-16 04:48:09 PM ET (MT Newswires)
04:48 PM EST, 11/16/2020 (MT Newswires) -- iQIYI (IQ) on Monday narrowed its net loss to RMB1.61 ($0.24) per ADS from RMB5.04 a year earlier, smaller than analysts' estimates of RMB2.69 per ADS in a Capital IQ poll.
Revenues fell 3% to RMB7.2 billion ($1.1 billion) from a year ago, broadly in-line with market expectations.
The video streaming service company, a unit of China's search engine Baidu (BIDU), reported 104.8 million subscribing members in Q3, down from 105.8 million a year ago.
For Q4, iQIYI expects revenue of RMB7.28 billion to RMB7.73 billion, against the Street consensus of RMB7.51 billion.
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