New Street: IQ 1Q22 Results - Drive to Profitability Taking Place
What’s new: iQIYI’s reported 1Q22 top-line results were largely in-line with consensus and our expectations, while margin beat on continued cost control measures. Membership services could remain resilient as there is sufficient content pipeline that could drive subscription and ARPU growth in FY22. We maintain our PT at USD10 on a potential recovery of the overall business driven by normalizing of content supply.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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