What We Learned from China's Tech Earnings, From Alibaba to Tencent [BNN Bloomberg (Canada)]
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: BNN Bloomberg
The nation's three internet leaders — Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. — all reported revenue that came in ahead of analysts' consensus for the final quarter of 2022, aided by a recovery in advertising. Alibaba co-founder Jack Ma's return to China — after more than a year abroad upon irking Beijing — was perceived by some as another indication of the regulatory setting shifting for the better. Members of the Hang Seng Tech Index have gained 4% on average since their earnings reports through Monday, led by a 28% surge in Lenovo Group Ltd., data compiled by Bloomberg show. This season took on greater significance as investors sought clarity on how tech firms are emerging from years of Covid restrictions and regulatory headwinds. The overall take is one of cautious optimism. While the sector is no longer growing at a dizzying pace, improving consumption and Beijing's wind down of crackdowns build the case for a valuation re-rating. “The earning anno
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BIDU
Earnings
- 2/28/24 - Beat
BIDU
Sec Filings
- 3/18/24 - Form 6-K
- 3/15/24 - Form 20-F
- 3/1/24 - Form 144
- BIDU's page on the SEC website