China's iQiyi, a streaming service majority-owned by Baidu and listed on the Nasdaq, reported its first quarterly profit, $26.7M in Q1, after cutting spending (Iris Deng/South China Morning Post)

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Iris Deng / South China Morning Post:

China’s iQiyi, a streaming service majority-owned by Baidu and listed on the Nasdaq, reported its first quarterly profit, $26.7M in Q1, after cutting spending  —  The Nasdaq-listed company, majority-owned by search giant Baidu, made a profit of 169.1 million yuan (US$26.7 million) …



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