Investing.com - iQIYI reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
iQIYI announced earnings per share of 0.2 on revenue of 7.28B. Analysts polled by Investing.com anticipated EPS of -0.5526 on revenue of 7.21B.
iQIYI shares are down 21.49% from the beginning of the year, still down 77.79% from its 52 week high of 16.12 set on June 28, 2021. They are outperforming the Nasdaq which is down 26.91% from the start of the year.
iQIYI follows other major Communication Services sector earnings this month
iQIYI's report follows an earnings missed by Yandex on April 28, who reported EPS of -26.08 on revenue of 106.01B, compared to forecasts EPS of -2.41 on revenue of 95.55B.
Meta Platforms had beat expectations on April 27 with first quarter EPS of 2.72 on revenue of 27.91B, compared to forecast for EPS of 2.56 on revenue of 28.28B.
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