Categories AlphaGraphs, Earnings, Technology
BIDU Infographic: Highlights of Baidu’s Q1 2022 earnings
Baidu, Inc. (NASDAQ: BIDU) has reported a decline in adjusted earnings for the first quarter of 2022, despite a modest increase in revenues. Strong growth in the Baidu AI Cloud and Intelligent Driving business was partially offset by weakness in the other areas of the business.
Revenues of the China-based technology company edged up 1% annually to RMB28.41 billion ($4.5 billion) in the March quarter. The Baidu app had 632 million monthly active users at the end of the quarter.
First-quarter adjusted earnings declined to RMB11.22 per ADS ($1.77 per ADS) from RMB12.38 per ADS in the corresponding period of fiscal 2021. On an unadjusted basis, it was a loss of RMB2.87 per ADS ($0.45 per ADS), compared to earnings of RMB73.76 per ADS last year.
Check this space to read management/analysts’ comments on Baidu’s Q1 2022 results
Baidu’s stock traded higher early Thursday on the Nasdaq stock exchange soon after the earnings announcement. It has lost about 11% since the beginning of the year.
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
MCD Earnings: McDonald’s comp sales up 12.6% in Q4; profit increases
Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged. The company said fourth-quarter
GM Earnings: All you need to know about General Motors Q4 2022 earnings results
General Motors Co. (NYSE: GM) reported fourth quarter 2022 earnings results today. Revenue increased 28.4% year-over-year to $43.1 billion. Net income attributable to stockholders increased 14.8% to $2 billion while EPS rose 19.8%
CAT Earnings: Highlights of Caterpillar’s Q4 2022 results
Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings. Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per