iQIYI, Inc. Sponsored ADR (IQ) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Baidu (NASDAQ: BIDU) posted its second-quarter report on Aug. 22. Its adjusted net income grew 44% to 8.0 billion yuan ($1.1 billion), or $3.11 per American Depositary Shares (ADS), and also cleared the consensus forecast by $0.78. Baidu's headline numbers were impressive, but its stock rose less than 3% after the report and remains down about 2% over the past 12 months.
BEIJING, Aug. 22, 2023 (GLOBE NEWSWIRE) -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced its unaudited financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights Total revenues were RMB7.8 billion (US$1.1 billion1), increasing 17% year over year.Operating income was RMB610.4 million (US$84.2 million) and operating income margin was 8%, compared to operating income of RMB12