On August 23rd, as of the close of the US stock market this morning, the stock price of video website iQiyi fell nearly 16%, hitting a new 52 week low at $2.6 per share.
On the news front, on August 22nd, iQiyi disclosed its Q2 2024 report. According to the financial report, iQiyi's revenue for the current period was 7.4 billion yuan, a year-on-year decrease of 5%. Among them, membership service revenue was 4.5 billion yuan, a decrease of 9%; Online advertising service revenue was 1.5 billion yuan, a decrease of 2%; The net profit was 68.7 million yuan, while the net profit for the same period in 2023 was 365.2 million yuan.