IQIYI's (IQ) Q4 Loss Matches Estimates, Revenues Rise Y/Y
Zacks Investment Research | Feb 27, 2020 09:39PM ET
iQIYI (NASDAQ:IQ) reported fourth-quarter 2019 adjusted loss of 49 cents per ADS, which was in line with the Zacks Consensus Estimate.
In domestic currency, the company reported loss of RMB3.43 per ADS.
Revenues increased 7% from the year-ago quarter to RMB7.5 billion ($1.1 billion).
As of Dec 31, 2019, total subscribers increased 22.3% year over year to 106.9 million. Of this, 98.9% were paid subscribers. The release of a number of high popular drama series drove subscriber growth, namely Qing Yu Nian, The Listener, Sword Dynasty and Spirit Sword Mountain among others.
Moreover, a wider range of content offerings including theatrical movies, such as Ne Zha and The Captain, animation serials One Piece, as well as premium variety show, More Than Forever also contributed to subscriber growth.
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