Baidu (NASDAQ:BIDU) earnings for the Chinese tech company’s fourth quarter of 2019 have BIDU stock moving after-hours Thursday. This follows its adjusted earnings per share (EPS) of RMB 26.54, while Wall Street’s estimate was for RMB 24.27. The company’s revenue of RMB 28.88 billion was also slightly above Wall Street’s estimate of RMB 28.42 billion for the quarter.
Here’s what else is worth mentioning from the most recent Baidu earnings report.
- Adjusted EPS is up 98% from the same time last year.
- Revenue for the period comes in 6% higher than the RMB 28 billion in Q4 2018.
- Operating income of RMB 4.66 billion is a 319% increase year-over-year from RMB 1.11 billion
- The Baidu earnings report also includes a net income of RMB 6.35 billion.
- That’s a 205% increase compared to its net income of RMB 2.08 billion from the same period of the previous year.
Robin Li, chairman and CEO of Baidu, said this about the BIDU earnings report:
“Baidu App’s spanning mobile ecosystem has resulted in more users logging in, DAUs growing robustly to 195 million in December, up 21% year over year, and in-app search queries increasing almost 30% year over year.”
The Baidu earnings report also includes its first-quarter 2020 outlook. This has it expecting revenue to range from RMB 21 billion to RMB 22.9 billion. For comparison, Wall Street is expecting revenue of RMB 23.08 billion.
BIDU stock was down almost 1% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.