Categories AlphaGraphs, Earnings, Technology

Infographic: Highlights from Baidu (BIDU) Q1 2020 earnings results

China-based internet search firm Baidu Inc. (NASDAQ: BIDU) reported its unaudited  financial results for the quarter ended March 31, 2020, on Monday after the market closes. The results exceeded analysts’ expectations.

Baidu (BIDU) Q1 2020 earnings

The top-line fell by 7% year-over-year due to its diversified revenue streams, including marketing services for wide-ranging industries, new AI businesses and iQIYI Inc. (NASDAQ: IQ). Other revenues jumped by 28% on strong growth in iQiyi membership, cloud service and smart devices.

In March, a month after the peak of COVID-19 new cases, Baidu’s traffic remained robust with Baidu App DAUs reaching 222 million, up 28% year over year, in-app search queries up 45% and feed time spent up 51%. iQIYI subscribers reached 118.9 million, up 23% year over year, in March 2020.

Baidu’s board of directors recently approved a 2020 Share Repurchase Program effective until July 1, 2021, under which the company may repurchase up to $1 billion of its shares. Looking ahead into Q2 of 2020, Baidu expects revenue to be $3.5-3.9 billion, representing a growth rate of -5% to +4% year-over-year. The COVID-19 situation in China is evolving, and business visibility is very limited.

Past Performance

Also Read:  DowDuPont posts strong Q2 results on higher demand

Most Popular

Salesforce (CRM) Q1 2021 earning infographic

Salesforce (NYSE: CRM) reported first-quarter earnings results for fiscal 2021 after the regular trading hours on Thursday. The results were better than analysts' projections. Meanwhile, the stock fell over 3%

A visual dashboard of Nordstrom (JWN) Q1 2020 earnings results

Nordstrom (NYSE: JWN) swung to a loss in the first quarter of 2020 hurt by the COVID-19 related charges. The fashion retailer reported a loss of $3.33 per share compared

A visual representation of Ulta Beauty (ULTA) Q1 2020 earnings results

Ulta Beauty Inc. (NASDAQ: ULTA) reported its financial results for the quarter ended May 2, 2020, on Thursday after the market closes. The results missed analysts' expectations. The company slipped

Top