|Day's range||0.2600 - 0.2600|
BEIJING, March 31, 2023 (GLOBE NEWSWIRE) -- iQIYI, Inc. (Nasdaq: IQ) (“iQIYI” or the “Company”), a leading provider of online entertainment video services in China, today announced the results of its previously announced repurchase right offer relating to its 2.00% Convertible Senior Notes due 2025 (CUSIP No. 46267XAD0) (the “Notes”). The repurchase right offer expired at 5:00 p.m., New York City time, on Thursday, March 30, 2023. Based on information from Citibank, N.A. as the paying agent for
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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.