IQIYI (NASDAQ:IQ) shares are trading higher after the company reported better-than-expected EPS and sales results.

"Our total revenue in the first quarter has exceeded our previous guidance, recording healthy growth on both quarter-over-quarter and year-over-year basis," said Xiaodong Wang, Chief Financial Officer of iQIYI. 

iQIYI Inc is an online entertainment service provider in China. It is primarily engaged in providing a variety of services encompassing internet video, live broadcasting, online games, online literature, animations, e-commerce and social media platform.

The stock was trading 10.20% higher at $13.94 at the time of writing. The stock has a 52-week high of $28.97 and a 52-week low of $12.14.