Why iQiyi Stock Popped Today
Shares of iQiyi (NASDAQ: IQ), a popular video streaming platform in China, jumped today after the company reported better-than-expected first-quarter results. The tech stock was up by 11.4% as of 11:12 a.m. EDT.
The company reported a non-GAAP diluted loss per share of $0.25, which easily beat analysts' consensus estimate of a loss of $0.36 per share. iQiyi's revenue of $1.2 billion also inched past Wall Street's expectation of $1.18 billion.
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Source Fool.com
