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Baidu (BIDU) to Report Q2 Earnings: What's in the Offing?
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Baidu, Inc. (BIDU - Free Report) is scheduled to report second-quarter 2023 results on Aug 22.
The Zacks Consensus Estimate for revenues is pegged at $4.66 billion, indicating a growth of 5.3% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings is pegged at $2.57 per share, suggesting 8.9% growth from the prior-year quarter’s reported figure. The estimated figure has been stable at 12.7% over the past 30 days.
BIDU’s earnings beat estimates in all its trailing four quarters of fiscal 2022, the average being 17.54%.
Solid momentum across Baidu’s AI business is expected to have continued driving its top-line growth in the second quarter.
Its deepening focus on bolstering its capabilities in generative AI is expected to get reflected in the upcoming results. The growing momentum of ERNIE Bot across China might have been a tailwind.
BIDU’s sustained efforts to strengthen the mobile search engine and AI tools are anticipated to have aided the second-quarter performance.
This apart, strength across Baidu Cloud is likely to have been the key catalyst for the business.
Its sustained efforts to bolster the mobile search engine and AI tools are anticipated to have aided the second quarter’s performance. Solid momentum in Baidu's mobile ecosystem is expected to have aided growth in the average daily active user base of the Baidu App in the second quarter.
Apart from this, the positive impacts of Baidu’s expanding footprint in the autonomous driving space are expected to get reflected in the upcoming results.
The strong momentum of Apollo Go Robotaxi service across China on the back of its increasing availability in several cities and a growing number of rides is likely to have benefited the company in the quarter under review.
The company’s well-performing iQIYI segment, which offers online entertainment services, is expected to have contributed well to the to-be-reported quarter’s performance.
However, the impacts of higher promotional expenses and heavy spending on new growth areas are expected to have affected the company’s performance in the quarter under discussion.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Baidu this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Baidu has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
BIDU has a Zacks Rank #3.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings this season.
American Eagle Outfitters is scheduled to release second-quarter fiscal 2023 results on Sep 6. The Zacks Consensus Estimate for AEO’s earnings is pegged at 15 cents per share, which indicates a significant jump from 4 cents per share reported in the year-ago quarter.
American Woodmark (AMWD - Free Report) has an Earnings ESP of +8.43% and currently carries a Zacks Rank #2.
American Woodmark is set to report first-quarter fiscal 2024 results on Aug 29. The Zacks Consensus Estimate for AMWD’s earnings is pinned at $2.20 per share, indicating a growth of 28.6% from the prior-year quarter.
Bank of Montreal (BMO - Free Report) has an Earnings ESP of +1.91% and a Zacks Rank #3 at present.
Bank of Montreal is scheduled to report third-quarter fiscal 2023 results on Aug 29. The Zacks Consensus Estimate for BMO’s earnings is pegged at $2.27 per share.
Image: Bigstock
Baidu (BIDU) to Report Q2 Earnings: What's in the Offing?
Baidu, Inc. (BIDU - Free Report) is scheduled to report second-quarter 2023 results on Aug 22.
The Zacks Consensus Estimate for revenues is pegged at $4.66 billion, indicating a growth of 5.3% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings is pegged at $2.57 per share, suggesting 8.9% growth from the prior-year quarter’s reported figure. The estimated figure has been stable at 12.7% over the past 30 days.
BIDU’s earnings beat estimates in all its trailing four quarters of fiscal 2022, the average being 17.54%.
Baidu, Inc. Price and EPS Surprise
Baidu, Inc. price-eps-surprise | Baidu, Inc. Quote
Factors to Consider
Solid momentum across Baidu’s AI business is expected to have continued driving its top-line growth in the second quarter.
Its deepening focus on bolstering its capabilities in generative AI is expected to get reflected in the upcoming results. The growing momentum of ERNIE Bot across China might have been a tailwind.
BIDU’s sustained efforts to strengthen the mobile search engine and AI tools are anticipated to have aided the second-quarter performance.
This apart, strength across Baidu Cloud is likely to have been the key catalyst for the business.
Its sustained efforts to bolster the mobile search engine and AI tools are anticipated to have aided the second quarter’s performance. Solid momentum in Baidu's mobile ecosystem is expected to have aided growth in the average daily active user base of the Baidu App in the second quarter.
Apart from this, the positive impacts of Baidu’s expanding footprint in the autonomous driving space are expected to get reflected in the upcoming results.
The strong momentum of Apollo Go Robotaxi service across China on the back of its increasing availability in several cities and a growing number of rides is likely to have benefited the company in the quarter under review.
The company’s well-performing iQIYI segment, which offers online entertainment services, is expected to have contributed well to the to-be-reported quarter’s performance.
However, the impacts of higher promotional expenses and heavy spending on new growth areas are expected to have affected the company’s performance in the quarter under discussion.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Baidu this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Baidu has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
BIDU has a Zacks Rank #3.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings this season.
American Eagle Outfitters (AEO - Free Report) has an Earnings ESP of +8.52% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters is scheduled to release second-quarter fiscal 2023 results on Sep 6. The Zacks Consensus Estimate for AEO’s earnings is pegged at 15 cents per share, which indicates a significant jump from 4 cents per share reported in the year-ago quarter.
American Woodmark (AMWD - Free Report) has an Earnings ESP of +8.43% and currently carries a Zacks Rank #2.
American Woodmark is set to report first-quarter fiscal 2024 results on Aug 29. The Zacks Consensus Estimate for AMWD’s earnings is pinned at $2.20 per share, indicating a growth of 28.6% from the prior-year quarter.
Bank of Montreal (BMO - Free Report) has an Earnings ESP of +1.91% and a Zacks Rank #3 at present.
Bank of Montreal is scheduled to report third-quarter fiscal 2023 results on Aug 29. The Zacks Consensus Estimate for BMO’s earnings is pegged at $2.27 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.