Baidu (NASDAQ: BIDU) is 5.4% doctors to its Q2 revenue, where revenue dipped somewhat, but which provided guidance for another potential revenue contract in Q3, as well as news of a SEC probe into its iQiyi unit.
Overall revenue fell 1% to 26.03B yuan (about $ 3,685B), although it increased 15% from the previous quarter.
Baidu Core revenue fell 3%, to 18.93B yuan.
But along with a sharp decline in costs and expenses, non-GAAP operating income jumped 187%, to 5.61 B yuan. And net income increased 40%, to 5.08 B yuan (up 65% respectively).
There is a constant rebound as COVID-19 becomes more manageable in China, says CEO Robin Li: “We are pleased that in-app revenue grew in the second quarter, despite a challenging macro environment, and further validate our validation around Baidu App a super-creating app via AI-powered building blocks and marketing cloud platform. “
Revenue per segment: Online marketing services, 17.68B yuan; Others, 8,346B yuan.
For Q3, it predicts revenue of 26.3B-28.7B yuan (growth of -6% to 2%, and about $ 3.7B- $ 4.1B), on the assumption that core revenue will grow between -7% and 3 % Y / Y. “The COVID-19 situation in China is evolving, and business visibility is very limited.”
Conference call to arrive at 9:15 p.m.
Press release
