Baidu ( NASDAQ: BIDU ) is scheduled to announce Q4 earnings results on Wednesday, February 22nd, before market open.
The consensus EPS Estimate is $2.06 (+13.2% Y/Y) and the consensus Revenue Estimate is $4.64B (-10.6% Y/Y).
Over the last 3 months, EPS estimates have seen 2 upward revisions and 13 downward. Revenue estimates have seen 0 upward revisions and 17 downward.
The Chinese search giant announced a plan in February to launch a ChatGPT-like bot called Ernie. Shares have risen around 17% since the start of 2023, but are down around -8% in the past 12 months.
Baidu ( BIDU ), along with China's other major tech companies, are poised to grow cloud spending in 2023 following a weak 2022, according to Bank of America.
SA contributor Tim Worstall argues the point of interest in Baidu's upcoming results will be how fast it is bouncing back following COVID-19 restrictions and the effects of the pandemic. Investors should be focusing on guidance ahead and management views on the rebound.
Benchmark sees Baidu ( BIDU ) as a key advertising beneficiary of China's market reopening, even though COVID effects would have hurt its advertising and non-ad segments for Q4.
Over the last 2 years, BIDU has beaten EPS estimates 100% of the time and has beaten revenue estimates 63% of the time.
For further details see:
Baidu Q4 preview: What to expect?