Goldman Sachs’ investment thesis on $Baidu(BIDU)$

Twelve_E
08-22

$Baidu(BIDU)$ reports Q2 EPS of $2.89, beating the consensus of $2.58.

Q2 revenue came in at $4.67 billion, slightly below the consensus estimate of $4.7 billion.

‘AI Cloud continued to accelerate in the second quarter, offsetting the ongoing macro headwinds for online marketing revenue and resulting in modestly positive topline growth for Baidu Core,’ said Robin Li, Co-founder and CEO of Baidu.

‘Operationally, we fast-tracked the renovation of Baidu search, which we believe will drive long-term success despite the short-term impact on monetization. We also achieved new milestones with Apollo Go, now offering 100% fully driverless ride-hailing services across nearly the entire Wuhan municipality, and have begun scalable testing of the latest RT6 vehicles.’

‘The transformative impact of Gen-AI and foundational models is gradually becoming more evident in both business and everyday life. Across all layers of our AI technology stack, and with the rapid adoption of applications built on ERNIE, we are scaling AI to tackle real-world challenges and create significant value for both our external customers and our own product portfolio.

Goldman Sachs’ investment thesis on $Baidu(BIDU)$ (reporting earnings in a few hours):

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$Baidu(BIDU)$ graph review before earnings today before open:

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  • Orez13
    ·08-22
    Great article, would you like to share it?
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