Patrick Frater Asia Bureau ChiefMystery surrounds the subscriber numbers of Chinese video streaming company iQIYI, which revealed that it is being investigated by the U.S.’s Securities and Exchange Commission.Confirmation of the SEC probe is expected to send iQIYI’s NASDAQ-listed shares sharply lower.
They closed at $21.68 on Thursday. But pre-market trading Friday indicates a fall of 10% to $19.3.The SEC confirmation was revealed by the company at the same time as interim and second quarter financial data.
This showed essentially flat revenue, decreased losses in the three months between April and June, and a 14 million plunge in subscriber numbers in the past three months.Subscriber data was previously spotlighted in April, when iQIYI.
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