Baidu.com Inc (BIDU)

[TechWhiz]

Baidu Posts Strong Earnings, Upbeat Forecast

Search giant sees benefits from economic restart in China.
TOM BEMIS1 HOUR AGO

Search giant Baidu (BIDU) - Get Report on Monday posted better-than-expected results for the first quarter and offered an optimistic forecast as economic activity rebounds in China.

Baidu posted adjusted earnings of $1.25 per American depositary receipt on revenue of $3.18 billion.

Analysts had been expecting the company would post 54 cents per ADR and revenue of $3.1 billion.

“With the pandemic coming under control in China, offline activities are rebounding and Baidu stands to benefit from a restart of the Chinese economy," said Robin Li, co-founder and CEO of Baidu, in a statement.

"In March, a month after the peak of COVID-19 new cases, Baidu's traffic remained robust with Baidu App DAUs reaching 222 million, up 28% year-over-year, in-app search queries up 45%, and feed time spent up 51%," Li added.

https://www.thestreet.com/investing/baidu-posts-strong-earnings-upbeat-forecast?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

Looks like we are heading to $125 very soon. Go BIDU!!!