iQIYI (IQ) Jumps 17% Ahead of Q2 Earnings

We recently published 10 Stocks Shine Brighter Than Wall Street. iQIYI, Inc. (NASDAQ:IQ) is one of Monday’s top performers.

iQIYI saw its share prices jump by 17.09 percent on Monday to finish at $2.33 apiece as investors gobbled up shares ahead of the release of its earnings performance for the second quarter of the year.

According to the company, it is scheduled to release its financial and operating highlights before market open on Wednesday, August 20. An earnings call will be held on the same day to elaborate on the results.

Investors will be closely watching out for cues of expansion plans, especially after Nikkei reported last week that iQIYI, Inc. (NASDAQ:IQ), alongside Tencent, was looking to roll out original productions in Thailand and Indonesia.

The report said the initiative was aimed at capturing a larger market and catching up with American streaming service rivals such as Netflix, which has already been producing its original series.

iQIYI (IQ) Jumps 17% Ahead of Q2 Earnings

Photo by Ashley Byrd on Unsplash

iQIYI, Inc. (NASDAQ:IQ), which has 36 million regional subscribers at present, saw its net income attributable to shareholders in the first quarter of the year fall by 72 percent to 182 million yuan from 655 million yuan in the same period last year. Revenues fell by 9 percent to 7.19 billion yuan from 7.93 billion yuan year-on-year.

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