iQIYI Q4 Adj EPS $0.10 Beats $0.06 Estimate, Sales $1.10B Beat $1.07B Estimate
Portfolio Pulse from Benzinga Newsdesk
iQIYI (NASDAQ:IQ) reported Q4 adjusted EPS of $0.10, surpassing the $0.06 estimate, and sales of $1.10B, exceeding the $1.07B estimate. However, this represents a 28.57% decrease in EPS from the same period last year, with sales remaining constant.
February 28, 2024 | 9:06 am
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iQIYI reported a Q4 adjusted EPS of $0.10, beating estimates, and sales of $1.10B, also above expectations. However, EPS decreased by 28.57% compared to last year.
The positive earnings and sales beat are likely to have a short-term positive impact on iQIYI's stock price, as beating analyst estimates typically boosts investor confidence. However, the decrease in EPS year-over-year might temper some of the enthusiasm, indicating that while the company is performing better than expected, it's not performing better than the previous year.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100