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Baidu and iQIYI Outperform Wall Street Expectations

  • August 22nd, 2023
  • 372 views

Baidu, Inc. (Nasdaq: BIDU), a leading Chinese technology company, unveiled second-quarter 2023 earnings per American depositary share (ADS) of $3.11, outperforming the consensus estimate of $2.32. The company's quarterly sales reached $4.70 billion, slightly exceeding analysts' projected revenue of $4.57 billion.

$BIDU was trading at $130.14 in pre-market, marking an increase of $5.22 (+4.18%).

Shifting focus, iQIYI, Inc. (Nasdaq: IQ), a prominent online entertainment platform in China, reported Q2 2023 earnings per ADS of $0.08, surpassing the consensus estimate of $0.05. The company's quarterly sales totaled $1.10 billion, slightly above analysts' expected revenue of $1.07 billion for the period.

In pre-market, $IQ was trading at $5.30, up $0.10 (+1.92%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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