IQ 1Q23 Results: 2Q Subs to Sequentially Decline from All Time Highs
What's new: iQIYI's reported 1Q23 results were above consensus and our expectations driven by resiliency in membership services. While membership revs and subs could sequentially decline in 2Q from all time highs due to seasonality, content pipeline remains healthy which could continue to drive sustainable growth for the membership segment. We maintain our PT at USD 10.Analysts:
Jin Yoon
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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