iQIYI Second Quarter 2024 Earnings: EPS Misses Expectations
iQIYI (NASDAQ:IQ) Second Quarter 2024 Results
Key Financial Results
Revenue: CN¥7.44b (down 4.7% from 2Q 2023).
Net income: CN¥68.7m (down 81% from 2Q 2023).
Profit margin: 0.9% (down from 4.7% in 2Q 2023).
EPS: CN¥0.071 (down from CN¥0.38 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
iQIYI EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.3%.
Looking ahead, revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Entertainment industry in the US.
Performance of the American Entertainment industry.
The company's shares are down 25% from a week ago.
Risk Analysis
Be aware that iQIYI is showing 1 warning sign in our investment analysis that you should know about...
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