iQIYI, Inc. (IQ) is a global video streaming (on-demand) platform that provides pan-Asian entertainment to global audiences. It offers VIP subscriptions and ad-supported platforms and delivers the best drama series, variety shows with subtitles.
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IQ stock price on March 18, 2022, regular trading session, jumped by 19.5% to be $3.48. Its price declined as of the writing in the premarket session of March 21, 2022, by 4.88%.
IQ: Events and Happenings
On March 17, 2022, IQ revealed two more Taiwanese original Chinese-language productions on top of the leading series proclaimed last year. The streamer revealed the trailer of KinnPorsche, at the Hong Kong FILMART content showcase.
On March 4, 2022, IQ reported its entry into subscription contracts with Baidu and a consortium of economic investors. The companies agreed upon subscription and acquisition of a total of 164,705,882 Class B ordinary shares and 304,705,880 Class A ordinary shares of the company in a private placement. The total acquisition price of the private placement is $285 million.
On February 14, 2022, IQ updated on the launch of the viewing trends during the Chinese New Year 2022 holiday period. The audience leveraged the company’s streaming portfolios to be with their loved ones. On January 26, 2022, IQ stated the completion of two 4K test films production in its virtual self-built studio.
IQ: Key Financials
On March 1, 2022, IQ released its fourth-quarter financial statement for the quarter ended December 31, 2021. Some important aspects are discussed here.
Total revenues in Q4 2021 were RMB7.38 billion against RMB7.45 billion in the comparable quarter of 2020. Its revenues observed a decline of RMB69.6 million over the year.
Net loss (basic and diluted) per ordinary share during Q4 2021 was RMB1.76 billion or RMB0.32 versus RMB1.53 billion or RMB0.30 in the comparable quarter of 2020. The company’s net loss inclined YoY.
IQ stock price plummeted by 87% in the past year as the world was facing economic constraints during the period. Currently, the company provided an update on two Chinese-language Taiwanese productions and its stock gained momentum. In Monday’s premarket session, its stock dropped to shed the gain.