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
Cost reduction has become a priority for FedEx (FDX) after a challenging quarter
Shares of FedEx Corporation (NYSE: FDX) were up 1% on Tuesday. The stock has dropped 44% year-to-date and 34% over the past 12 months. The company delivered mixed results for
Prime Medicine is the next big biotech to pursue IPO. Here’s all you need to know
After a soft start to the year, the IPO market has witnessed muted activity so far though a few big companies entered the stock market. On the heels of AIG
Stock Watch: Is Darden Restaurants a good buy after earnings?
After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many
