Baidu.com (NASDAQ: BIDU) reported Q1 EPS of $1.00, $0.14 better than the analyst estimate of $0.86. Revenue for the quarter came in at $2.45 billion versus the consensus estimate of $2.44 billion.

• Total revenues in the first quarter of 2017 were RMB16.891 billion ($2.454 billion), a 6.8% increase from the corresponding period in 2016. Mobile revenue represented 70% of total revenues for the first quarter of 2017, compared to 60% for the corresponding period in 2016.
• Operating profit in the first quarter of 2017 was RMB2.006 billion ($291.4 million), a 9.3% decrease from the corresponding period in 2016. Baidu Core (Search Services and Transaction Services combined) non-GAAP operating margins were 26.2%, with Transaction Services reducing Baidu Core non-GAAP operating margins by 16.8 percentage points. iQiyi further reduced non-GAAP operating margins by 10.6 percentage points for the first quarter of 2017.
• Net income attributable to Baidu in the first quarter of 2017 was RMB1.777 billion ($258.1 million), a 10.6% decrease from the corresponding period in 2016. Diluted earnings attributable to Baidu per ADS for the first quarter of 2017 were RMB4.63 ($0.67); non-GAAP net income attributable to Baidu[2] in the first quarter of 2017 was RMB2.390 billion ($347.2 million), a 1.3% increase from the corresponding period in 2016; non-GAAP diluted earnings per ADS[3] for the first quarter of 2017 were RMB6.85 ($1.00).

GUIDANCE:

Baidu.com sees Q2 2017 revenue of $2.974-3.048 billion, versus the consensus of $3.03 billion.

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