Recap: Baidu Q1 Earnings

Shares of Baidu BIDU moved higher by 3.8% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 51.20% over the past year to $1.89, which beat the estimate of $1.66.

Revenue of $4,294,000,000 higher by 34.86% from the same period last year, which beat the estimate of $4,220,000,000.

Looking Ahead

Q2 revenue expected between $4,500,000,000 and $5,000,000,000.

Conference Call Details

Date: May 18, 2021

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/v4b5guy7

Technicals

Company's 52-week high was at $354.82

52-week low: $94.90

Price action over last quarter: down 34.08%

Company Overview

Baidu is the largest Internet search engine in China with a 75% share of the search engine market in March 2021 as per Statcounter. The firm generated 68% of revenue from online marketing services and the rest from other segments in 2020. Baidu is a technology-driven company and has been investing in AI technology, such as autonomously driven cars.