Baidu swings to net loss for first time since listing, shares fall [Reuters (UK)]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
Last baidu, inc. - american depositary shares, each representing 8 ordinary share earnings: 2/27 04:30 pm
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Source: Reuters
Baidu swings to net loss for first time since listing, shares fall - Reuters 3 Min Read (Reuters) - Chinese search engine operator Baidu Inc booked its first quarterly loss since at least 2015 and forecast quarterly revenue below market estimates, saying a “challenging marketing environment” is sapping income from advertisers. The tech giant also pointed to the income impact of heightened government scrutiny of online advertising aimed at reducing the visibility of potentially fraudulent businesses. After the earnings report on Thursday, the price of Baidu’s U.S.-listed shares fell as much as 8% in extended trading. Last year, Baidu said tighter ad regulations as well as an ongoing trade dispute between China and the United States could temper short-term profit, but that investment in new technology would pay off in the long term. “Despite government policies to improve the market condition for SMEs, we anticipate online marketing in the near term to face a challenging environment,” C
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BIDU
Earnings
- 2/28/24 - Beat
BIDU
Sec Filings
- 4/12/24 - Form 6-K
- 4/2/24 - Form 144
- 3/18/24 - Form 6-K
- BIDU's page on the SEC website