Company News: Baidu (BIDU) quarterly earnings beat analysts’ forecast

Market news

14 August 2020

Company News: Baidu (BIDU) quarterly earnings beat analysts’ forecast

Baidu (BIDU) reported Q2 FY 2020 earnings of RMB14.73 per share (versus RMB1.47 per share in Q2 FY 2019), beating analysts’ consensus estimate of RMB9.87 per share.

The company’s quarterly revenues amounted to RMB26.034 bln (-1.1% y/y), roughly in line with analysts’ consensus estimate of RMB25.790 bln.

The company also issued in-line guidance for Q3 FY 2020, projecting revenues of RMB26.30-28.70 bln versus analysts’ consensus estimate of RMB 27.68 bln.

BIDU fell to $117.30 (-5.84%) in pre-market trading.

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