Baidu posts biggest profit decline since going public
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Go back to Baidu posts biggest profit decline since going public
July 29, 2016 10:02 AM EDT
Brean Capital maintained a Buy rating on Baidu.com (NASDAQ: BIDU), and cut the price target to $197.00 (from $220.00), following the company's 2Q earnings report. Revenue came in at RMB 18.26bn, above consensus expectations of RMB 18.17bn. Non-GAAP EPS came in at ~$1.22, exceeding consensus of $1.18.
Analyst Fawne... More
July 29, 2016 9:05 AM EDT
Deutsche Bank maintained a Buy rating on Baidu (NASDAQ: BIDU) and lowered its price target to $182.00 (from $199.00). The change follows an in-line print with soft guidance.
Commenting on results, analyst Alan Hellawell said, "Baidu delivered in-line results; rev grew 10% YoY to RMB18.3bn. Non-GAAP net income declined 19% YoY to RMB2.8bn. The company yet again underspent on subsidies and SG&A (RMB4.2bn vs DBe RMB5.0bn) although... More
