Update: IQIYI Shares Fall After Company Swings to Q1 Non-GAAP Loss, Revenue Falls
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IQIYI shares fell 2.6% after the company reported a Q1 non-GAAP loss of 0.24 renminbi per share, down from earnings of 0.31 renminbi a year earlier. Revenue decreased to 6.23 billion renminbi from 7.19 billion renminbi, matching analyst expectations. The stock price is currently at 1.13, reflecting a change of -0.03.
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