iQIYI Quarterly Losses Hit $400 Million as Lockdown Boosts Subscribers
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variety.comBy Patrick Frater Asia Bureau Chief Chinese streaming firm iQIYI saw its first quarter losses increase to $406 million (RMB2.88 billion), while revenues and subscriptions improved.
The NASDAQ-listed company reported 119 million paying subscribers, a year-on year increase of 23%. That implies growth of 12 million subscribers in the January to end of March period in which much of China was in stay-at-home or lockdown mode due to the coronavirus outbreak.
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