Baidu Beats Quarterly Revenue Estimates on Strong Advertising

Reuters2023-08-22

China's Baidu Inc beat second-quarter revenue estimates on Tuesday, helped by strength in advertising.

Baidu shares gained 3.67% after posting financial results.

Businesses have revived spending on digital advertising after easing of COVID-19 restrictions spurred an economic recovery, benefiting the Chinese search engine giant, which relies on online ads for most of its revenue.

Baidu has also been focusing on its generative artificial intelligence (AI) tool, Ernie, to jump on the AI bandwagon — a trend that has caught the attention of investors and consumers.

The company's revenue for the quarter ended June 30 was 34.06 billion yuan ($4.67 billion), compared with analysts' average estimate of 33.28 billion yuan, according to Refinitiv data.

Its online marketing revenue rose 15% in the second quarter.

The company reported profit of 22.55 yuan per American Depositary Share, compared with profit of 15.79 yuan per share a year earlier.

($1 = 7.2928 Chinese yuan renminbi)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

The Knight
2023-08-22
The Knight
Fly to the Moon

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2361653884?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-08-22 17:04","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2361653884","market":"hk","top_or_hot":-1,"title":"Baidu Beats Quarterly Revenue Estimates on Strong Advertising","media":"Reuters","content":"<html><head></head><body><p>China&#39;s Baidu Inc beat second-quarter revenue estimates on Tuesday, helped by strength in advertising.</p><p>Baidu shares gained 3.67% after posting financial results.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01ea962d8089da03d2becf0b26dc76dd\" title=\"\" tg-width=\"806\" tg-height=\"861\"/></p><p style=\"text-align: start;\">Businesses have revived spending on digital advertising after easing of COVID-19 restrictions spurred an economic recovery, benefiting the Chinese search engine giant, which relies on online ads for most of its revenue.</p><p style=\"text-align: start;\">Baidu has also been focusing on its generative artificial intelligence (AI) tool, Ernie, to jump on the AI bandwagon — a trend that has caught the attention of investors and consumers.</p><p style=\"text-align: start;\">The company&#39;s revenue for the quarter ended June 30 was 34.06 billion yuan ($4.67 billion), compared with analysts&#39; average estimate of 33.28 billion yuan, according to Refinitiv data.</p><p style=\"text-align: start;\">Its online marketing revenue rose 15% in the second quarter.</p><p style=\"text-align: start;\">The company reported profit of 22.55 yuan per American Depositary Share, compared with profit of 15.79 yuan per share a year earlier.</p><p style=\"text-align: start;\">($1 = 7.2928 Chinese yuan renminbi)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Baidu Beats Quarterly Revenue Estimates on Strong Advertising</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaidu Beats Quarterly Revenue Estimates on Strong Advertising\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-08-22 17:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/23/08/33978006/baidu-q2-adj-epads-3-11-beats-2-32-estimate-sales-4-70b-beat-4-57b-estimate><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China's Baidu Inc beat second-quarter revenue estimates on Tuesday, helped by strength in advertising.Baidu shares gained 3.67% after posting financial results.Businesses have revived spending on ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/23/08/33978006/baidu-q2-adj-epads-3-11-beats-2-32-estimate-sales-4-70b-beat-4-57b-estimate\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"09888","symbol_name":"百度集团-SW","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/23/08/33978006/baidu-q2-adj-epads-3-11-beats-2-32-estimate-sales-4-70b-beat-4-57b-estimate","article_id":"2361653884","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2361653884","pubTimestamp":1692695059,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Baidu (NASDAQ:BIDU) reported quarterly earnings of $3.11 per share which beat the analyst consensus estimate of $2.32 by 34.05 percent. This is a 31.78 percent increase over earnings of $2.36 per share from the same","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"09888":"百度集团-SW","BIDU":"百度"},"translate_title":"百度凭借强劲的广告收入超过季度预期","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09888":1,"BIDU":1},"content_text":"China's Baidu Inc beat second-quarter revenue estimates on Tuesday, helped by strength in advertising.Baidu shares gained 3.67% after posting financial results.Businesses have revived spending on digital advertising after easing of COVID-19 restrictions spurred an economic recovery, benefiting the Chinese search engine giant, which relies on online ads for most of its revenue.Baidu has also been focusing on its generative artificial intelligence (AI) tool, Ernie, to jump on the AI bandwagon — a trend that has caught the attention of investors and consumers.The company's revenue for the quarter ended June 30 was 34.06 billion yuan ($4.67 billion), compared with analysts' average estimate of 33.28 billion yuan, according to Refinitiv data.Its online marketing revenue rose 15% in the second quarter.The company reported profit of 22.55 yuan per American Depositary Share, compared with profit of 15.79 yuan per share a year earlier.($1 = 7.2928 Chinese yuan renminbi)","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":211620519559288,"gmtCreate":1692696202691,"gmtModify":1692696207028,"author":{"id":"3570437600969291","authorId":"3570437600969291","name":"The Knight","avatar":"https://static.tigerbbs.com/75dcd9b9c7a6f69cb6e3d99df5c339df","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":6,"crmLevelSwitch":1,"idStr":"3570437600969291","authorIdStr":"3570437600969291"},"htmlText":"Fly to the Moon&nbsp;","listText":"Fly to the Moon&nbsp;","text":"Fly to the Moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/211620519559288","repostId":2361653884,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":7,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2361653884"}