- Shares of Chinese video-streaming stocks are surging on Monday.
- One of them – Bilibili – is scheduled to report earnings after markets close.
- Watch IQiyi, Huya, Bilibili trade in real time here.
Shares of Chinese video-streaming stocks are surging in US action on Monday.
Here’s the scoreboard:
Monday’s gains come as these tech companies continue to recoup the losses that were incurred earlier this month when Chinese internet giant Tencent reported its first profit drop in almost 13 years. Tencent, one of the stocks included in the “FAANG+BAT” basket, along with Facebook, Apple, Amazon, Netflix, Google-parent Alphabet, Baidu, and Alibaba, said its business was dragged down by slower growth in mobile gaming and a decline in PC gaming.
IQiyi, commonly referred to as the Netflix of China, distinguishes itself by featuring popular original content, as well as other high quality partner-generated and user-generated content.
Huya competes with IQiyi in entertainment industry, but focuses more on game live-streaming, targeting gamer enthusiasts of China’s young generation.
Bilibili, also one of IQiyi’s competitors, was built as a video-sharing website themed around animation, comic, and games where users can submit, view, and add commentary subtitles on videos.
IQiyi and Bilibili were listed on Nasdaq in March and Huya went public at The New York Stock Exchange in May.
Bilibili is scheduled to report its second-quarter earnings after Monday’s closing bell. Analysts surveyed by Bloomberg expect a loss of $0.29 a share on revenue of $1 billion. After adjusted for pretax gains, loss is expected to be $0.14 per share.
Bilibili shares are little changed since their March initial public offering.
- Markets Insider