Yahoo Finance Baidu (BIDU) to Report Q3 Earnings: What's in the Offing?
Baidu, Inc. BIDU is scheduled to report third-quarter 2022 results on Nov 22.
The Zacks Consensus Estimate for the September-quarter revenues is pegged at $4.74 billion, indicating a decline of 4.3% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings is pegged at $2.44 per share, suggesting 7% growth from the prior-year quarter’s reported figure.
BIDU’s earnings beat estimates in all its trailing four quarters, the average being 58.1%.
Baidu, Inc. Price and EPS Surprise
Baidu, Inc. price-eps-surprise | Baidu, Inc. Quote
Factors to Consider
Gains from Baidu’s expanding footprint in the autonomous driving space are expected to get reflected in the to-be-reported results. The growing traction of the Apollo Go Robotaxi service across China is likely to have hugely favored BIDU’s performance in the third quarter.
The growing efforts to strengthen Baidu’s AI business are likely to have been a key catalyst. BIDU’s robust Baidu Cloud is anticipated to have benefited the business in the quarter under review.
The growing adoption of Baidu ACE smart transportation is likely to have contributed well to the AI business in the third quarter.
Additionally, sustained efforts to bolster the mobile search engine and AI tools are anticipated to have aided the third-quarter performance.
The momentum in Baidu's mobile ecosystem is expected to have aided growth in the average daily active user base of the Baidu App in the third quarter. Hosted solutions on the Baidu App are expected to have driven the Baidu Core segment in the to-be-reported quarter.
BIDU’s well-performing iQIYI segment, offering online entertainment services, is expected to have bolstered the to-be-reported quarter’s performance.
However, the impacts of higher promotional expenses and heavy spending on new growth areas are expected to have affected Baidu’s performance in the quarter under discussion.
Uncertainties related to the coronavirus pandemic in China are also anticipated to have raised a concern.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Baidu this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, but that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Baidu has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell), currently.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Dollar General DG has an Earnings ESP of +1.58% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dollar General is scheduled to release third-quarter fiscal 2022 results on Dec 1. The Zacks Consensus Estimate for DG’s earnings is pegged at $2.55 per share, suggesting a 22.6% increase from the prior-year fiscal quarter’s reported figure.
Adobe ADBE has an Earnings ESP of +0.45% and a Zacks Rank of 3 at present.
Adobe is scheduled to release fourth-quarter fiscal 2022 results on Dec 15. The Zacks Consensus Estimate for ADBE’s earnings is pegged at $3.50 per share, suggesting a 9.4% rise from the prior-year fiscal quarter’s reported figure.
Dollar Tree DLTR has an Earnings ESP of +6.31% and is presently Zacks #3 Ranked.
Dollar Tree is set to report third-quarter 2022 results on Nov 22. The Zacks Consensus Estimate for DLTR’s earnings is pegged at $1.16 per share, suggesting 20.8% growth from the prior-year period’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Dollar General Corporation (DG) : Free Stock Analysis Report
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Baidu, Inc. (BIDU) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
