0738 GMT - iQiyi is likely to deliver lower 3Q revenue, Nomura analysts say in a research note. The analysts forecast the Chinese video-streaming company's 3Q revenue to fall 10% on year to CNY7.2 billion, largely in line with consensus. iQiyi's membership revenue likely continued its downward trend during the quarter, down 15% on year, mainly due to decline in subscriber numbers, the analysts say. Nomura keeps a neutral rating with a target price of $2.75 on the ADRs, which last traded at $2.58. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
October 23, 2024 03:38 ET (07:38 GMT)
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