Baidu Inc. (BIDU - Free Report) just released its latest quarterly financial results, posting non-GAAP earnings of $2.60 per share and revenues of $3.33 billion.
Currently, BIDU is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have lost about 1.5% over the past month but the stock added 3.2% during regular trading hours today.
The stock is currently up 5.6% to $252.00 per share in after-hours trading shortly after its earnings report was released.
Baidu:
Beat earnings estimates. The company posted adjusted earnings of $2.60 per share, crushing the Zacks Consensus Estimate of $1.73. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $3.33 billion, topping our consensus estimate of $3.26 billion. Total revenue increased 31% year over year.
Mobile revenue represented 78% of total net revenue, compared to 70% in the year-ago period. Total revenues of Baidu Core were $2.57 billion, increasing 26% year over year. Content costs were $669 million, representing a 59% increase. The year-over-year increase was mainly due to iQIYI's higher content costs.
“Through innovation, search plus feed is powering strong monetization, DuerOS is showing accelerated momentum with hardware partners and Apollo has a great potential to become a world-class technology platform,” said CEO Robin Li.
For the second quarter of 2018, Baidu expects revenues to be between $3.97 billion and $4.17 billion, representing a 26% to 33% increase year over year. Our latest consensus estimate was calling for revenue of $3.91 billion.
Here’s a graph that looks at Baidu’s recent earnings performance:
Baidu, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People's Republic of China. The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd., a network of third-party Web sites and software applications.
Check back later for our full analysis on BIDU’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Baidu Inc. (BIDU - Free Report) just released its latest quarterly financial results, posting non-GAAP earnings of $2.60 per share and revenues of $3.33 billion.
Currently, BIDU is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have lost about 1.5% over the past month but the stock added 3.2% during regular trading hours today.
The stock is currently up 5.6% to $252.00 per share in after-hours trading shortly after its earnings report was released.
Baidu:
Beat earnings estimates. The company posted adjusted earnings of $2.60 per share, crushing the Zacks Consensus Estimate of $1.73. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $3.33 billion, topping our consensus estimate of $3.26 billion. Total revenue increased 31% year over year.
Mobile revenue represented 78% of total net revenue, compared to 70% in the year-ago period. Total revenues of Baidu Core were $2.57 billion, increasing 26% year over year. Content costs were $669 million, representing a 59% increase. The year-over-year increase was mainly due to iQIYI's higher content costs.
“Through innovation, search plus feed is powering strong monetization, DuerOS is showing accelerated momentum with hardware partners and Apollo has a great potential to become a world-class technology platform,” said CEO Robin Li.
For the second quarter of 2018, Baidu expects revenues to be between $3.97 billion and $4.17 billion, representing a 26% to 33% increase year over year. Our latest consensus estimate was calling for revenue of $3.91 billion.
Here’s a graph that looks at Baidu’s recent earnings performance:
Baidu, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People's Republic of China. The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd., a network of third-party Web sites and software applications.
Check back later for our full analysis on BIDU’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on BIDU - FREE