Categories Earnings, Technology

Baidu likely to report weak Q2 earnings on Aug 19

Baidu Inc. (NASDAQ: BIDU) is set to release its second-quarter earnings results on Monday, August 19 after the market closes. The results will be hurt by expenses related to the investments in non-core areas including cloud, artificial intelligence, and content due to the slowdown in the search service business in the Chinese market.

The company generated a substantial majority of its revenue from online marketing services, a considerable majority of which are derived from pay-for-performance services. Baidu’s revenue from online marketing has increased in recent years and is expected to continue on the upward journey.

Baidu’s business continues to depend on its ability to retain existing advertisers or attract new ones. The company believes its large user base and traffic to provide advertisers with a broad reach and optimal monetization results. However, it banks on advertisers’ choice of getting expected returns from expenditures made on Baidu’s platform.

Baidu likely to report weak Q2 earnings on Aug 19
Photo Courtesy: Baidu / Facebook post

The company faced significant competition in almost every aspect of its business, including internet search, feed services, online marketing services as well as internet video services. The main competitors include China-based internet companies, such as Alibaba (NYSE: BABA), Tencent, ByteDance, Sohu (NASDAQ: SOHU), and Qihoo 360. Apart from this, Alphabet’s (NASDAQ: GOOGL) subsidiary Google is likely to give stiff competition to Baidu in the internet search market.

Analysts expect the company’s earnings to plunge by 71.60% to $0.86 per share and revenue to decline by 2.50% to $3.65 billion for the second quarter. In comparison, during the previous year quarter, Baidu posted a profit of $3.03 per share on revenue of $3.74 billion. The company has surprised investors by beating analysts’ expectations thrice in the past four quarters.

For the first quarter, Baidu slipped to a loss from a profit last year, due to higher costs and expenses. Revenues rose by 15% supported by strong contributions from both the business segments. Revenues from Baidu Core moved up 8% and those from iQIYI, the video streaming arm of Baidu, climbed 43%. At the end of March 2019, the company had 174 million daily active users, up 28% from the year-ago period.

Also read: iQIYI Q2 earnings preview

Read: Luckin Coffee’s maiden earnings review

The search-powered artificial intelligence is expected to continue strengthening Baidu’s mobile foundation as its new AI businesses are making strong progress. In March, Baidu’s mobile reaches expanded to 1.1 billion monthly active devices, while DuerOS voice assistant installed base reached 275 million devices and generated 2.37 billion mobile voice queries.

For the second quarter, the company expects revenues in the range of $3.74 billion to $3.96 billion, representing a 3% decrease to 2% increase year-over-year. Looking ahead, the company is quite excited about the opportunities to significantly improve content and service discovery through in-app search and lift customer return on investment with its entrance into CRM.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Abbott Laboratories (ABT) Q2 2024 Earnings: Key financials and quarterly highlights

Abbott Laboratories (NYSE: ABT) reported second quarter 2024 earnings results today. Net sales increased 4% year-over-year to $10.4 billion. Net earnings decreased 5% to $1.3 billion, or $0.74 per share,

Key highlights from Domino’s Pizza’s (DPZ) Q2 2024 earnings results

Domino’s Pizza, Inc. (NYSE: DPZ) reported second quarter 2024 earnings results today. Total revenues increased 7.1% year-over-year to $1.09 billion. Net income increased 29.8% to $142 million and EPS grew

United Airlines (UAL) Q2 adj. earnings drop but beat estimates; revenue up 6%

United Airlines Holdings, Inc. (NYSE: UAL) reported a decline in adjusted earnings for the second quarter of 2024 when the company's revenues increased year-over-year. The bottom line came in above

Comments

  1. Pingback: Lincoln Georgis
  2. Pingback: Chirurgie Tunisie
  3. Pingback: Campus facilities
  4. Pingback: سياسة
  5. Pingback: Dental anatomy
  6. Pingback: Pharmacy's PHD
  7. Pingback: Bureaucracies
  8. Pingback: MBA degree Cairo
  9. Pingback: Bachelor's Degree
  10. Pingback: economics degree
  11. Pingback: Career Fairs
  12. Pingback: Fiverr Earn
  13. Pingback: Fiverr Earn
  14. Pingback: Fiverr Earn
  15. Pingback: Fiverr Earn
  16. Pingback: Fiverr Earn
  17. Pingback: Fiverr Earn
  18. Pingback: fiverrearn.com
  19. Pingback: fiverrearn.com
  20. Pingback: fiverrearn.com
  21. Pingback: prostadine buy
  22. Pingback: fiverrearn.com
  23. Pingback: weather
  24. Pingback: fiverrearn.com
  25. Pingback: french bulldog
  26. Pingback: bitcoin
  27. Pingback: 18k gold plated
  28. Pingback: future university
  29. Pingback: Fiverr
  30. Pingback: future university
  31. Pingback: lean six sigma
  32. Pingback: FUE
  33. Pingback: Classic Books 500
  34. Pingback: FiverrEarn
  35. Pingback: Coach
  36. Pingback: Sex Australia
  37. Pingback: pupuk organik cair
  38. Pingback: partners
  39. Pingback: ikaria juice
  40. Pingback: Public Policy
  41. Pingback: redboost
  42. Pingback: FiverrEarn
  43. Pingback: FiverrEarn
  44. Pingback: FiverrEarn
  45. Pingback: live sex cams
  46. Pingback: FiverrEarn
  47. Pingback: FiverrEarn
  48. Pingback: FiverrEarn
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: FiverrEarn
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: Milk
  57. Pingback: pearl
  58. Pingback: Kuliah Termurah
  59. Pingback: FiverrEarn
  60. Pingback: FiverrEarn
  61. Pingback: FiverrEarn
  62. Pingback: FiverrEarn
  63. Pingback: cheap sex cams
  64. Pingback: live sex cams
  65. Pingback: live sex cams
  66. Pingback: live sex cams
  67. Pingback: frt trigger
  68. Pingback: 늑대닷컴
  69. Pingback: Slot Hewan
  70. Pingback: One Peace AMV
  71. Pingback: One Peace AMV
  72. Pingback: nang sydney
  73. Pingback: allgame
  74. Pingback: 918kiss
  75. Pingback: Beauty essentials
  76. Pingback: pg slot
  77. Pingback: Raahe Guide
  78. Pingback: Raahe Guide
  79. Pingback: itsMasum.Com
  80. Pingback: itsmasum.com
  81. Pingback: itsmasum.com
  82. Pingback: talkwithstarnger
  83. Pingback: gulf jobs central
  84. Pingback: cheap video chat
  85. Pingback: free sex chat
  86. Pingback: Kampus Ternama
  87. Pingback: Bulk URL Shortener
  88. Pingback: 918kiss

Comments are closed.

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top