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Why iQiyi Stock Jumped 15% Higher in February

Rich Duprey, The Motley Fool
·2-min read
Why iQiyi Stock Jumped 15% Higher in February

Shares of iQiyi (NASDAQ: IQ) jumped 15.4% in February, according to data from S&P Global Market Intelligence, after the Chinese streaming video platform reported better-than-expected fourth-quarter earnings, building on a stronger performance that had been building up for most of the year. Analyst Daniel Chen at J.P. Morgan was surprised by the robust growth iQiyi produced, noting adjusted earnings were 176% more than what it had forecast. Like Netflix, the Chinese streamer has had to produce more content in-house to maintain parity with the competition and the quality of its programming has reportedly been very good, helping iQiyi grow its subscriber base.

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