TECH - Baidu to Report Q1 Earnings: What's in the Offing? | Benzinga
Baidu, Inc. (NASDAQ: BIDU) is scheduled to report first-quarter 2024 results on May 16.
The Zacks Consensus Estimate for revenues is pegged at $4.31 billion, indicating a decline of 4.9% from the year-ago quarter's reported figure.
The Zacks Consensus Estimate for earnings is pegged at $2.30 per share, suggesting a 1.7% fall from the prior-year quarter's reported figure. The estimated figure has remained unchanged over the past 30 days.
BIDU's earnings beat estimates in the trailing four quarters, the average being 17.14%.
Factors to Consider
Baidu's first-quarter 2024 results are likely to have benefited from its strengthening AI business, driven by the growing momentum of ERNIE Bot across China.
Strength across Baidu Cloud is likely to have been another key catalyst for its AI business.
The company's increasing focus on bolstering its ad technologies by introducing AI chatbots for brands, enabling them to enhance user engagement and drive customer demand, is expected to have been a tailwind in the to-be-reported quarter.
Baidu's expanding partnerships with companies like Samsung, Honor and Autohome, which integrates ...