Company News: Baidu (BIDU) quarterly results beat analysts’ expectations

Market news

19 May 2020

Company News: Baidu (BIDU) quarterly results beat analysts’ expectations

Baidu (BIDU) reported Q1 FY 2020 earnings of RMB8.84 per share (versus RMB0.41 per share in Q1 FY 2019), beating analysts' consensus estimate of RMB3.98 per share.

The company's quarterly revenues amounted to RMB22.545 bln (-6.9% y/y), beating analysts' consensus estimate of RMB21.937 bln.

The company also issued in-line guidance for Q2 FY 2020, projecting revenues of RMB25.00-27.30 bln versus analysts' consensus estimate of RMB 25.62 bln.

BIDU rose to $115.38 (+7.24%) in pre-market trading.

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