Baidu Set to Post Q2 Earnings: What’s in the Cards?
Baidu, Inc. (NASDAQ: BIDU) is scheduled to report second-quarter 2024 results on Aug 22.
The Zacks Consensus Estimate for revenues is pegged at $4.74 billion, indicating growth of 0.8% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings is pegged at $2.68 per share, suggesting a 13.8% fall from the prior-year quarter’s reported figure. The estimated figure has been unchanged over the past 30 days.
BIDU’s earnings beat estimates in the trailing four quarters, the average being 16.83%.
Baidu, Inc. Price and EPS Surprise
Baidu, Inc. price-eps-surprise | Baidu, Inc. Quote
Factors to Consider
Solid momentum across Baidu’s AI business is expected to have continued driving its top-line growth in the second quarter.
The company’s deepening focus on bolstering its capabilities in generative AI is expected to get reflected in the upcoming results. The growing momentum of ERNIE Bot across China is anticipated to have been a tailwind. The strengthening ERNIE family of foundation models is likely to have driven customer momentum in the to-be-reported quarter.
Strength across Baidu Cloud is likely to have been a …
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