119.07 +1.52 (1.29%)
Pre-market: 7:36AM EDT
|Bid||119.75 x 900|
|Ask||120.00 x 800|
|Day's range||117.16 - 123.27|
|52-week range||117.16 - 274.00|
|Beta (3Y monthly)||1.12|
|PE ratio (TTM)||9.16|
|Earnings date||29 Jul 2019 - 2 Aug 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||209.15|
The U.S. no longer leads the smart speaker market, according to new data from Canalys out this morning, which found China's smart speaker shipments grew by 500% in Q1 2019 to overtake the U.S. and achieve a 51% market share. More specifically, Baidu had a huge quarter thanks to an exclusive sponsorship deal with China's national TV channel, CCTV, on its New Year's Gala on Chinese New Year's Eve -- one of the biggest entertainment shows in terms of viewer numbers.
The internet search company disappointed Wall Street with its results last week. Analysts say things could improve in the second half of the year.
These Tech Stocks Lost Big on May 17Baidu reports a GAAP loss in the first quarterShares of Chinese (FXI) tech giant Baidu (BIDU) fell 16.5% on May 17, 2019. Also known as China’s Google, Baidu reported its first-quarter earnings results on May
Baidu (BIDU) reports dismal first-quarter earnings due to weaker-than-expected online marketing environment, a slowdown in China and higher expenses.
Chinese Stocks are Getting CrushedWhat the heck happened? In the last month the CSI 300 is down 11.5%, much more than US indices (SPY) (QQQ). And on Friday some big Chinese ADRs got pounded on earnings with Baidu down 16% and Weibo down 10%. Look,
Recent earnings reports from Baidu Inc., Alibaba Group Holding Co. and Tencent Holdings Ltd. show what happens when management remains desperate to keep the top line climbing. China’s biggest tech companies are not only battling a sustained economic slowdown, they’re getting to the natural end of a decades-long expansion – fueled by the theory that if revenue grows, profit will automatically follow. Baidu is the biggest victim of this folly.
China's leading search engine plummeted 16.5% on Friday after posting problematic financial results. iQiyi was far from perfect, but its stock was limited to a 6.6% slide.
The search-engine company turned in its first net loss in more than a decade and said it expects revenue growth to fade to near zero in the second quarter, sending the stock down by 16.5% on Friday.
Shares of Baidu Inc. plummeted 13% in premarket trade Friday, putting them on track to open at the lowest price seen during regular-session hours since September 2015, after the China-based internet search giant swung to a first-quarter loss. The disappointing results and downbeat outlook prompted Analyst Fawne Jiang at Benchmark to keep her rating at buy, but to slash her price target by 27% to $180, given decelerating growth and persistent margin pressures. The stock has lost 9.6% over the past three months and 45% over the past 12 months, while the S&P 500 has gained 3.6% the past three months and tacked on 5.7% the past year.
China's leading search engine surprises investors -- in a bad way -- with its first quarterly loss in years. Slowing growth, weak guidance, and one exec moving on aren't helping.
The tech giant also pointed to the income impact of heightened government scrutiny of online advertising aimed at reducing the visibility of potentially fraudulent businesses. After the earnings report on Thursday, the price of Baidu's U.S.-listed shares fell as much as 8% in extended trading. Last year, Baidu said tighter ad regulations as well as an ongoing trade dispute between China and the United States could temper short-term profit, but that investment in new technology would pay off in the long term.
The Beijing-based company also forecast sales below estimates and said Hailong Xiang, the 14-year veteran who ran the search business, has resigned. Baidu’s American depositary receipts fell more than 7% in extended trading. Baidu is fighting on a number of fronts as the slowing Chinese economy dampens advertising sales and its desktop search business loses users to smartphones.