: U.S. shares of iQiyi drop as subscribers decrease
IQiyi Inc.’s IQ U.S.-traded shares fell in the extended session Wednesday after the Chinese streaming-video company said it lost subscribers compared with a year ago. IQiyi American depositary receipts fell 8
IQiyi Inc's. IQ U.S.- exchanged offers fell in the all-encompassing meeting Wednesday after the Chinese web based video organization said it lost supporters contrasted and a year back. IQiyi American depositary receipts fell 8% night-time, following a 0.5% decay to close the ordinary meeting at $24.98. IQiyi said it had 101.7 million supporters toward the finish of the final quarter, contrasted and 106.9 million in the year-prior period, and that this was essentially why income declined.
The organization revealed profit of 32 pennies an offer while income declined 1% to $1.1 billion from the year-prior period. Examiners reviewed by FactSet had gauge a deficiency of 36 pennies an offer on income of $1.16 billion.