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Stock impact report

UPDATE 3-China's Baidu forecasts sales drop as regulation, trade fears bite [Reuters]

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 Check Earnings Report
US:NASDAQ Investor Relations: ir.baidu.com
Company Research Source: Reuters
China's Baidu forecasts sales drop as regulation, trade fears bite | Reuters 4 Min Read (Reuters) - Chinese search engine operator Baidu Inc on Wednesday forecast lower-than-expected sales for the rest of the year, citing looming economic uncertainty and tough new regulations that have impacted its ad clients. The company said revenue for the fourth quarter of 2018 will likely be 25.48 billion to 26.72 billion yuan, below the 27.6 billion yuan average of 17 analyst estimates compiled by Refinitiv. Baidu’s businesses “began to feel he impact of policy changes... as well as general uncertainties from a potential trade war,” Chief Financial Officer Herman Yu said on a call with analysts after the firm released its earnings results. “We expect this trend to continue.” Baidu’s U.S.-listed stock was down 1.4 percent in after-hours trading. The stock has fallen more than 20 percent since the beginning of the year, mirroring similar losses at peers Alibaba Group Holding Ltd and Tencent Holdin Show less Read more
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