iQiyi (IQ)

[John-Knee]

iQIYI Posts Smaller-Than-Expected Q3 Loss, Lower Subscribing Members, Sets Q4 Guidance
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.