0729 GMT - iQiyi's top-line outlook remains challenging, say HSBC analysts in a research note. Revenue is likely to decline by 11% year-over-year in 2Q mainly due to weaker membership revenue from poor performance of selected long-awaited dramas, and softer advertising business, they note. Overall user time spent on long-form video platforms is declining as short video platforms continue to gain time spent share, they note. HSBC maintains a hold rating and raises target price of its ADRs to $1.80 from $1.65 to factor in the change in FX. The ADRs were last traded at $1.96. iQiyi's 2Q results are expected in August. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
July 21, 2025 03:29 ET (07:29 GMT)
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