Investing.com - iQIYI reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
iQIYI announced earnings per share of $-1.61 on revenue of $7.97B. Analysts polled by Investing.com anticipated EPS of $-1.96 on revenue of $7.65B.
iQIYI shares are down 27.63% from the beginning of the year and are trading at $12.65 , down-from-52-week-high.They are under-performing the Nasdaq which is up 3.81% from the start of the year.
iQIYI follows other major Technology sector earnings this month
iQIYI's report follows an earnings beat by Apple on April 28, who reported EPS of $1.4 on revenue of $89.58B, compared to forecasts EPS of $0.9864 on revenue of $77.09B.
Microsoft had beat expectations on April 27 with third quarter EPS of $1.95 on revenue of $41.71B, compared to forecast for EPS of $1.78 on revenue of $41.04B.
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