IQIYI shares fall 4.39% premarket after reporting Q2 loss and revenue decline.

Iqiyi, Inc. fell 4.39% in premarket trading, with the company reporting a Q2 loss and a decline in revenue. The company's core online advertising business, which typically makes up 60% of the overall company revenue, took a hit due to a property market downturn, weak employment rates, and choppy consumer demand.