We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Baidu (BIDU) to Post Q3 Earnings: What's in the Offing?
Read MoreHide Full Article
Baidu, Inc. (BIDU - Free Report) is scheduled to report third-quarter 2023 results on Nov 21.
The Zacks Consensus Estimate for earnings is pegged at $2.45 per share, suggesting 3.4% growth from the prior-year quarter’s reported figure. The estimated figure has moved downward by 2% over the past 30 days.
The Zacks Consensus Estimate for revenues is pegged at $4.65 billion, indicating growth of 1.7% from the year-ago quarter’s reported figure.
BIDU’s earnings beat estimates in all its trailing four quarters, the average being 11.6%.
Factors to Consider
Gains from Baidu’s expanding footprint in the autonomous driving space are expected to be reflected in the to-be-reported results. The growing traction of the Apollo Go Robotaxi service across China is likely to have hugely favored BIDU’s performance in the third quarter.
The growing efforts to strengthen Baidu’s AI business are likely to have been a key catalyst. The company’s robust Baidu Cloud is anticipated to have benefited the business in the quarter under review.
This apart, the solid momentum of the company’s generative AI chatbot, Ernie Bot, capable of solving mathematics queries, responding to questions regarding Chinese literature and generating images and videos, might have benefited its upcoming results.
Sustained efforts to bolster the mobile search engine and AI tools are anticipated to have aided the third quarter’s performance.
Strength in Baidu's mobile ecosystem is expected to have aided growth in the average daily active user base of the Baidu App in the quarter under review.
BIDU’s well-performing iQIYI segment, offering online entertainment services, is expected to have bolstered 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 Baidu’s performance in the quarter under discussion.
Growing market uncertainties in China are also anticipated to have raised concerns.
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, as elaborated below.
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.
Baidu currently has a Zacks Rank #4 (Sell).
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.
Image: Bigstock
Baidu (BIDU) to Post Q3 Earnings: What's in the Offing?
Baidu, Inc. (BIDU - Free Report) is scheduled to report third-quarter 2023 results on Nov 21.
The Zacks Consensus Estimate for earnings is pegged at $2.45 per share, suggesting 3.4% growth from the prior-year quarter’s reported figure. The estimated figure has moved downward by 2% over the past 30 days.
The Zacks Consensus Estimate for revenues is pegged at $4.65 billion, indicating growth of 1.7% from the year-ago quarter’s reported figure.
BIDU’s earnings beat estimates in all its trailing four quarters, the average being 11.6%.
Factors to Consider
Gains from Baidu’s expanding footprint in the autonomous driving space are expected to be reflected in the to-be-reported results. The growing traction of the Apollo Go Robotaxi service across China is likely to have hugely favored BIDU’s performance in the third quarter.
The growing efforts to strengthen Baidu’s AI business are likely to have been a key catalyst. The company’s robust Baidu Cloud is anticipated to have benefited the business in the quarter under review.
This apart, the solid momentum of the company’s generative AI chatbot, Ernie Bot, capable of solving mathematics queries, responding to questions regarding Chinese literature and generating images and videos, might have benefited its upcoming results.
Sustained efforts to bolster the mobile search engine and AI tools are anticipated to have aided the third quarter’s performance.
Strength in Baidu's mobile ecosystem is expected to have aided growth in the average daily active user base of the Baidu App in the quarter under review.
BIDU’s well-performing iQIYI segment, offering online entertainment services, is expected to have bolstered 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 Baidu’s performance in the quarter under discussion.
Growing market uncertainties in China are also anticipated to have raised concerns.
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, as elaborated below.
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.
Baidu currently has a Zacks Rank #4 (Sell).
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.
Costco Wholesale (COST - Free Report) has an Earnings ESP of +3.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Costco is set to announce its first-quarter fiscal 2024 results on Dec 14. COST shares have gained 29.6% year to date.
Synopsys (SNPS - Free Report) has an Earnings ESP of +0.94% and a Zacks Rank #2.
Synopsys is set to announce its fourth-quarter fiscal 2023 results on Nov 29. SNPS shares have declined 24.9% year to date.
Snowflake (SNOW - Free Report) has an Earnings ESP of +67.33% and a Zacks Rank #2.
Snowflake is set to announce its third-quarter fiscal 2024 results on Nov 29. SNOW shares have gained 86% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.