New Street: IQ 4Q22 Results - Uptick in Memberships in 1Q
What's new: iQIYI's reported 4Q22 results were above consensus and our expectations driven by recovery in membership and ads. Membership segment could see an uptick in number of subscribers and revenues driven by strong content pipeline in 1Q including “The Knockout” where it broke records across every key metrics on the platform. We maintain our PT at USD10 as business recovery remains on track 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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We provide debt research on:
- Pan European Telecom Services and Cable
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