New Street: IQ 2Q21 Results: Expect Further Normalizing of Content Supply in 2H; Maintain PT of $27
What’s new: iQIYI’s reported 2Q21 top-line results were above consensus and our expectations. Guidance reflects potential uncertainty in the content approval process which may lead to short-term volatility on the subscription net adds in 2H. We maintain our PT at USD27 due to the potential recovery of the overall business and 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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