iQIYI Q3 Adj. EPADS $0.09 Beats $0.06 Estimate, Sales $1.11B Beat $1.10B Estimate
Portfolio Pulse from Benzinga Newsdesk
iQIYI (NASDAQ:IQ) reported Q3 adjusted earnings per ADS of $0.09, surpassing the $0.06 estimate, marking a 200% increase from $0.03 per share last year. Sales reached $1.11B, slightly beating the $1.10B estimate and showing a 1.37% increase from $1.09B in the same period last year.
November 21, 2023 | 9:06 am
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POSITIVE IMPACT
iQIYI reported strong Q3 earnings with EPS of $0.09, beating estimates by 50%, and sales of $1.11B, marginally surpassing the $1.10B forecast.
The positive earnings report, with both EPS and sales exceeding analyst estimates, is likely to instill investor confidence and could lead to a short-term uptick in iQIYI's stock price. The significant beat on EPS and the consistent growth in sales year-over-year are strong indicators of the company's performance and may be viewed favorably by the market.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100