iQIYI (IQ) Announces Earnings Results, Beats Estimates By $0.81 EPS

iQIYI (NASDAQ:IQ) announced its quarterly earnings data on Thursday. The company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.12) by $0.81, Briefing.com reports. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.94 billion. The firm’s revenue was up 48.5% compared to the same quarter last year.

IQ stock traded up $0.74 on Thursday, reaching $18.75. 6,523,545 shares of the company’s stock were exchanged, compared to its average volume of 7,025,458. iQIYI has a twelve month low of $15.30 and a twelve month high of $20.50.

IQ has been the topic of a number of recent analyst reports. Bank of America initiated coverage on iQIYI in a report on Wednesday. They set a “neutral” rating and a $21.00 price objective on the stock. Citigroup initiated coverage on iQIYI in a report on Tuesday. They set a “buy” rating and a $22.00 price objective on the stock.

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