Why iQiyi Stock Jumped This Week
Investors in the Chinese streaming video specialist iQiyi (NASDAQ: IQ) enjoyed a brief rally this past week. Shares rose by more than 10% at one point before falling back to a 2% increase through Thursday trading. The wider market fell 1.6% in that period, according to data provided by S&P Global Market Intelligence.
The rally was sparked by iQiyi's Q4 earnings update, which featured improving trends on both the top and bottom lines. Let's take a closer look.
Revenue landed at $1.1 billion for the three-month selling period that ended in late December, management said in a Wednesday earnings report. That result marked an improvement over the prior quarter's 2% decline and edged past most investors' expectations.
Source Fool.com
