New Street: IQ 2Q22 Results - Profits to Grow Faster Than Revs
What's new: iQIYI’s reported 2Q22 top-line results were largely in-line with consensus and our expectations, while margin came in better than expected. Profit could continue to grow faster than that of revenue growth amid continued cost controls and better efficiency in content investments. We maintain our PT at USD10 on a potential recovery of the overall business driven by normalizing of content supply.Analysts:
Jin Yoon
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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
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- Pan European Telecom Services and Cable
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