Baidu's Profit Drops But Still Beats Estimates

Like
Comment
Favorite

Baidu's Profit Drops But Still Beats Estimates

Dow Jones05-16

By Tracy Qu

Chinese search-engine giant Baidu reported a drop in quarterly profit but delivered top and bottom line beats, helped by online marketing revenue and AI cloud sales.

The Beijing-based company said Thursday that net profit fell 6.5% from a year earlier to 5.45 billion yuan ($754.9 million). The result topped the CNY4.11 billion expected by analysts in a FactSet poll.

Adjusted net profit, a widely tracked metric, jumped 22% to CNY7.01 billion, handily beating analysts' expectations for CNY5.64 billion. The profit measure excludes the effects of share-based compensation expenses, fair-value changes in long-term investments, and disposal gains and losses, among other things.

Revenue rose 1.2% on the year to CNY31.51 billion, just above analysts' estimate for CNY31.22 billion.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

May 16, 2024 05:25 ET (09:25 GMT)

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.

Report

Comment

No comments yet

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2435624050?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-16 17:25","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2435624050","market":"sh","top_or_hot":-1,"title":"Baidu's Profit Drops But Still Beats Estimates","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Tracy Qu \n</p>\n<pre>\n \n</pre>\n<p>\n  Chinese search-engine giant Baidu reported a drop in quarterly profit but delivered top and bottom line beats, helped by online marketing revenue and AI cloud sales. \n</p>\n<p>\n  The Beijing-based company said Thursday that net profit fell 6.5% from a year earlier to 5.45 billion yuan ($754.9 million). The result topped the CNY4.11 billion expected by analysts in a FactSet poll. \n</p>\n<p>\n  Adjusted net profit, a widely tracked metric, jumped 22% to CNY7.01 billion, handily beating analysts' expectations for CNY5.64 billion. The profit measure excludes the effects of share-based compensation expenses, fair-value changes in long-term investments, and disposal gains and losses, among other things. \n</p>\n<p>\n  Revenue rose 1.2% on the year to CNY31.51 billion, just above analysts' estimate for CNY31.22 billion. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Tracy Qu at tracy.qu@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 16, 2024 05:25 ET (09:25 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","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's Profit Drops But Still Beats Estimates</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's Profit Drops But Still Beats Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-16 17:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Tracy Qu \n\n\n \n\n\n  Chinese search-engine giant Baidu reported a drop in quarterly profit but delivered top and bottom line beats, helped by online marketing revenue and AI cloud sales. \n\n\n  The ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"LU0320764243.SGD","symbol_name":"FTIF - Templeton Emerging Markets A Acc SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2435624050","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2435624050","pubTimestamp":1715851500,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Chinese search-engine giant Baidu reported a drop in quarterly profit but delivered top and bottom line beats, helped by online marketing revenue and AI cloud sales.The Beijing-based company said Thursday that net profit fell 6.5% from a year earlier to 5.45 billion yuan . The result topped the CNY4.11 billion expected by analysts in a FactSet poll.Adjusted net profit, a widely tracked metric, jumped 22% to CNY7.01 billion, handily beating analysts' expectations for CNY5.64 billion. The profit measure excludes the effects of share-based compensation expenses, fair-value changes in long-term investments, and disposal gains and losses, among other things.Revenue rose 1.2% on the year to CNY31.51 billion, just above analysts' estimate for CNY31.22 billion.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"80700":"腾讯控股-R","89888":"百度集团-SWR","89988":"阿里巴巴-SWR","LU0320764243.SGD":"FTIF - Templeton Emerging Markets A Acc SGD","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","SG9999002463.SGD":"LionGlobal China Growth SGD","BK4575":"芯片概念","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU0543330566.HKD":"TEMPLETON BRIC \"A\" (HKD) ACC","BK4538":"云计算","SG9999014674.SGD":"Nikko AM All China Equity A SGD","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","BK4552":"Archegos爆仓风波概念","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU0051755006.USD":"摩根大通中国A (dist)","LU1046421795.USD":"富达环球科技A-ACC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","BK1610":"ETF&股票定投概念","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","BK4505":"高瓴资本持仓","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0918141887.USD":"安联亚洲实际收益股票基金","00700":"腾讯控股","LU0173614495.USD":"富达中国焦点A","09888":"百度集团-SW","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","09988":"阿里巴巴-SW","BK1608":"元宇宙概念","BK1575":"同股不同权","TCEHY":"腾讯控股ADR","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK1531":"手游股","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","BK4531":"中概回港概念","BIDU":"百度","LU0080751232.USD":"富达环球多元动力基金A"},"translate_title":"百度的利润下降，但仍超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"80700":0.6,"89888":0.6,"89988":0.6,"09888":1,"BIDU":1,"TCEHY":0.9,"00700":0.9,"09988":0.9},"content_text":"By Tracy Qu \n\n\n \n\n\n  Chinese search-engine giant Baidu reported a drop in quarterly profit but delivered top and bottom line beats, helped by online marketing revenue and AI cloud sales. \n\n\n  The Beijing-based company said Thursday that net profit fell 6.5% from a year earlier to 5.45 billion yuan ($754.9 million). The result topped the CNY4.11 billion expected by analysts in a FactSet poll. \n\n\n  Adjusted net profit, a widely tracked metric, jumped 22% to CNY7.01 billion, handily beating analysts' expectations for CNY5.64 billion. The profit measure excludes the effects of share-based compensation expenses, fair-value changes in long-term investments, and disposal gains and losses, among other things. \n\n\n  Revenue rose 1.2% on the year to CNY31.51 billion, just above analysts' estimate for CNY31.22 billion. \n\n\n \n\n\n  Write to Tracy Qu at tracy.qu@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 16, 2024 05:25 ET (09:25 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}