iQIYI reports Q3 EPS 9c, consensus 7c

Reports Q3 revenue $1.1B, consensus $1.12B. The average daily number of total subscribing members for the quarter was 107.5M. The monthly average revenue per membership for the third quarter was RMB 15.54. “We recorded strong results in both revenues and profits. ARM increased by 12% year over year, driven by our compelling content offering and growing perceived value of our membership privilege,” commented Mr. Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. “Our business proves to be defensible against the fluctuations of economic cycles.”