New Street: IQ 3Q21 Results - Content Approvals Remain Impacted from Regulations
What’s new: iQIYI’s reported 3Q21 top-line results were largely in-line with consensus and our expectations. Guidance reflects continued uncertainty in the content approval process which may lead to short-term volatility on subscription net adds and ad visibility in the near term. We maintain our PT at USD18 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
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We provide debt research on:
- Pan European Telecom Services and Cable
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