爱奇艺：Weather short-term headwinds in 2Q24; eyes on 2H24E recovery

29 Jul 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update iQIYI (IQ US) Weather short-term headwinds in 2Q24; eyes on 2H24E recovery iQiyi will report 2Q24 results on 22 August. We forecast 2Q24 total revenue to decline by 5% YoY to RMB7.4bn, due to underperformance of certain drama series and a YoY decline in the number of variety shows. We expect non-GAAP operating profit to drop by 36% YoY to RMB503mn on operating deleverage, despite largely flattish content costs a ...