iQIYI (IQ) reported Q1 adjusted earnings Wednesday of 0.31 renminbi ($0.04) per diluted American depositary share, down from 0.87 renminbi a year earlier.
Analysts polled by FactSet expected 0.29 renminbi.
Revenue for the quarter ended March 31 was 7.19 billion renminbi, compared with 7.93 billion renminbi a year earlier.
Analysts surveyed by FactSet expected 7.09 billion renminbi.
Shares of the company rose 3.8% in premarket activity.
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