iQiyi Shares Plunge 13% as Q2 Results Disappoint Amid Content Challenges

Stock Track08-22

Shares of iQiyi Inc. , a leading online entertainment platform in China, plunged as much as 13.74% in morning trading, after the company reported disappointing second-quarter financial results.

For the quarter ended June 30, 2024, iQiyi posted revenue of RMB 7.44 billion ($1.02 billion), down 9.1% year-over-year and missing analyst estimates of RMB 7.42 billion. The company's non-GAAP earnings per American Depositary Share (ADS) stood at RMB 0.25 ($0.03), in line with expectations but significantly lower than RMB 0.61 in the same period last year.

The lackluster performance was primarily attributed to a fluctuation in the company's content slate, which affected its membership services revenue, the largest contributor to iQiyi's top line. Membership services revenue declined 9% year-over-year to RMB 4.5 billion ($618.6 million), reflecting challenges in attracting and retaining subscribers with compelling content offerings.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1159101797?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-22 23:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1159101797","market":"us","top_or_hot":-1,"title":"iQiyi Shares Plunge 13% as Q2 Results Disappoint Amid Content Challenges","media":"Stock Track","content":"<html><head></head><body><p>Shares of <a href=\"https://laohu8.com/S/IQ\">iQiyi Inc. </a>, a leading online entertainment platform in China, plunged as much as 13.74% in morning trading, after the company reported disappointing second-quarter financial results.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/72c6605d926bd51b56e5217dbfa16836\" tg-width=\"760\" tg-height=\"624\"/></p><p>For the quarter ended June 30, 2024, iQiyi posted revenue of RMB 7.44 billion ($1.02 billion), down 9.1% year-over-year and missing analyst estimates of RMB 7.42 billion. The company&#39;s non-GAAP earnings per American Depositary Share (ADS) stood at RMB 0.25 ($0.03), in line with expectations but significantly lower than RMB 0.61 in the same period last year.</p><p>The lackluster performance was primarily attributed to a fluctuation in the company&#39;s content slate, which affected its membership services revenue, the largest contributor to iQiyi&#39;s top line. Membership services revenue declined 9% year-over-year to RMB 4.5 billion ($618.6 million), reflecting challenges in attracting and retaining subscribers with compelling content offerings.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>iQiyi Shares Plunge 13% as Q2 Results Disappoint Amid Content Challenges</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\niQiyi Shares Plunge 13% as Q2 Results Disappoint Amid Content Challenges\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-22 23:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4142641-iqiyi-non-gaap-epads-of-003-in-line-revenue-of-1b-misses-by-20m><strong>Stock Track</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of iQiyi Inc. , a leading online entertainment platform in China, plunged as much as 13.74% in morning trading, after the company reported disappointing second-quarter financial results.For the...</p>\n\n<a href=\"https://seekingalpha.com/news/4142641-iqiyi-non-gaap-epads-of-003-in-line-revenue-of-1b-misses-by-20m\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IQ","symbol_name":"爱奇艺","start_time":0,"source_url":"https://seekingalpha.com/news/4142641-iqiyi-non-gaap-epads-of-003-in-line-revenue-of-1b-misses-by-20m","article_id":"1159101797","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1159101797","pubTimestamp":1724339564,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of $iQiyi Inc. $, a leading online entertainment platform in China, plunged as much as 13.74% in morning trading, after the company reported disappointing second-quarter financial results.For the quarter ended June 30, 2024, iQiyi posted revenue of RMB 7.44 billion , down 9.1% year-over-year and missing analyst estimates of RMB 7.42 billion. The company's non-GAAP earnings per American Depositary Share  stood at RMB 0.25 , in line with expectations but significantly lower than RMB 0.61 in","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IQ":"爱奇艺"},"translate_title":"内容挑战导致第二季度业绩令人失望，爱奇艺股价暴跌13%","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IQ":1.1},"content_text":"Shares of iQiyi Inc. , a leading online entertainment platform in China, plunged as much as 13.74% in morning trading, after the company reported disappointing second-quarter financial results.For the quarter ended June 30, 2024, iQiyi posted revenue of RMB 7.44 billion ($1.02 billion), down 9.1% year-over-year and missing analyst estimates of RMB 7.42 billion. The company's non-GAAP earnings per American Depositary Share (ADS) stood at RMB 0.25 ($0.03), in line with expectations but significantly lower than RMB 0.61 in the same period last year.The lackluster performance was primarily attributed to a fluctuation in the company's content slate, which affected its membership services revenue, the largest contributor to iQiyi's top line. Membership services revenue declined 9% year-over-year to RMB 4.5 billion ($618.6 million), reflecting challenges in attracting and retaining subscribers with compelling content offerings.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":5,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1159101797"}