Baidu Earnings: BIDU Stock Soars 5% on Strong EPS & Revenue Beat

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Baidu (NASDAQ:BIDU) earnings for the Chinese internet search company’s third quarter of 2019 have BIDU stock soaring after-hours Wednesday. That’s thanks to its Non-GAAP earnings per share of $1.76 on revenue of $3.93 billion. These both come in above Wall Street’s estimates of $1.11 per share and $3.88 billion.

Baidu Earnings: BIDU Stock Soars 5% on Strong EPS & Revenue Beat

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Let’s take a more in-depth look at the Baidu earnings report for the third quarter of the year.

  • Non-GAAP EPS is down 36% from $2.75 in the third quarter of 2018.
  • Revenue is largely unchanged from the same period of the year prior.
  • Operating income for the quarter is down 47% from the same time last year.
  • The Baidu earnings report also sees net income in Q3 2018 turn to a net loss in the most recent quarter.

Robin Li, Chairman and CEO of Baidu, says this about the current BIDU stock earnings.

“Baidu App traffic continues to grow robustly with DAUs reaching 189 million, up 25% year over year, in September and Baidu’s in-app search continues to gain market share. Our focus to combine search and feed and expand Baidu App’s content and services offerings is improving user experience and drawing publishers and service providers to place more content and services on Baidu’s hosted platform, which in turn draws more users. This positive reinforcing cycle has been a contributing factor to Baidu Core’s operating margin rising 1,400 basis points from the prior quarter”

BIDU stock was up 5.01% in after-hours trading on Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/11/baidu-earnings-boost-bidu-stock/.

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