Investing.com - iQIYI reported on Wednesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
iQIYI announced earnings per share of -2.17 on revenue of 7.59B. Analysts polled by Investing.com anticipated EPS of -2.12 on revenue of 7.6B.
iQIYI shares are down 20% from the beginning of the year and are trading at 8.59 , down-from-52-week-high.They are under-performing the Nasdaq which is up 23.94% from the start of the year.
iQIYI follows other major Communication Services sector earnings this month
iQIYI's report follows an earnings beat by Alphabet C on October 26, who reported EPS of 27.99 on revenue of 65.12B, compared to forecasts EPS of 23.83 on revenue of 63.53B.
Alphabet A had beat expectations on October 26 with third quarter EPS of 27.99 on revenue of 65.12B, compared to forecast for EPS of 23.73 on revenue of 63.53B.
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