2023-05-16 05:04:26 ET
- Baidu press release ( NASDAQ: BIDU ): Q1 EPADS of $2.34 beats by $0.50 .
- Revenue of $4.54B (+1.3% Y/Y) beats by $230M .
- Cost of revenues was RMB 15.2 billion ($2.21 billion), decreasing 3% year over year.
- Selling, general and administrative expenses were RMB 5.6 billion ($814 million), increasing 20% year over year.
- Research and development expense was RMB 5.4 billion ($790 million), decreasing 3% year over year, primarily due to a decrease in personnel related expense.
- Adjusted EBITDA was RMB 8.1 billion ($1.19 billion) and adjusted EBITDA margin was 26%. Adjusted EBITDA for Baidu Core was RMB 7.0 billion ($1.02 billion) and adjusted EBITDA margin for Baidu Core was 30%.
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Baidu Non-GAAP EPS of $2.34 beats by $0.50, revenue of $4.54B beats by $230M