Baidu has lost over $60 billion in value since its peak — now earnings are expected to fall further

— which have collectively been named "BAT." But it's facing an increasingly tough advertising market, and has been falling behind the other two rivals.

Earnings per share of 2.91 yuan, according to Refinitiv estimates. If achieved, that would be a more than 83% year-on-year decline. Baidu has been investing heavily in its own mobile offering. It has an app where users can search and watch videos as well as a number of other functions. The company announced last week that the number of daily active users on the app had surpassed 200 million.

"We are leveraging Baidu AI to provide enterprise solutions to businesses and local governments, which significantly expands our total addressable market," Baidu CEO Robin Li said in the first-quarter earnings statement.

LOL the fall of China is starting

Good!

I need to read about this, it’s baffling losing that much and expected to lose even more

deserved

Undervalued

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These stocks fell after earnings, but Wall Street analysts see a buying opportunityCNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.
Source: CNBC - 🏆 12. / 72 Read more »