Baidu (NASDAQ: BIDU) stock falls ahead of Q3 earnings

0
4

Baidu (NASDAQ: BIDU) stock is trading down 0.70% ahead of its third-quarter earnings results today after the market closes. Analysts expect the search engine giant to report earnings of $1.11 per share on revenue of $3.88 billion. Watch this space here for live updates.

The results will be hurt by search service weakness, unfavorable market conditions, and curbs imposed by the Chinese government. The online marketing services continued to remain weak due to increased regulation from the government. This is likely to impact the results of the gaming, healthcare, and financial services segments.

For the second quarter, Baidu reported better-than-expected earnings and revenue. The top line rose by 1% due to the Chinese economic slowdown, the ongoing trade war and rising competition from its peers Tencent and ByteDance. Baidu’s Core marketing services performance was impacted by headwinds.

For the third quarter, Baidu expects revenues in the range of $3.84 billion to $4.07 billion compared to $3.88 billion expected by the Street.

(The article will be updated shortly)