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Home / Business / Baidu -9.6% on Q1 miss, low revenue outlook for Q2 – Baidu, Inc. (NASDAQ: BIDU)

Baidu -9.6% on Q1 miss, low revenue outlook for Q2 – Baidu, Inc. (NASDAQ: BIDU)



Baidu (NASDAQ: BIDU) has [9459004] turned 9.6% after hours, after a lack of slowing growth and a heavy drawback to revenue guidance for the current quarter.

Some light results were widely expected as the Company focused on organic user growth, and analysts expect a stronger second half.

Revenue increased 15% to 24.12B yuan; Excluding revenues from businesses sold, they increased by 21%.

However, operating expenses increased by 53%, and the company fluctuated to an operating profit of 4.6 million yuan on a GAAP basis, and non-GAAP operating revenues fell 93% to 401

,000 yuan

Net income fell 80% to 967,000 yuan from 4.82M yuan.

Daily active users of the Baidu app rose 28% to 174M. DAUs for Haokan rose 768% from last year and 16% from last quarter to 22M. And the installed base for the company's voice assistant DuerOS increased 279% Y / Y to 275M, while monthly voice requests increased 817% to 2.37B.

The company approved a new $ 1B share purchase program, valid until July 1, 2020.

And it noted that Hailong Xiang, senior VP of the search company, has resigned. Dou Shen will be senior VP who monitors mobile activities ("formerly known as the search industry").

It controls under consensus, in Q2 revenue of 25.1B-26.6B yuan.

Conference call to arrive at 9:15 pm ET.

Earlier: Baidu misses with $ 0.16, income in line (May 16, 2019)

Press release


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