Baidu's Q3 Earnings: Revenue Slides, Weak Online Ads Market Impact Margins

On Thursday, Baidu, Inc (NASDAQ: BIDU) reported fiscal third-quarter revenue of $4.78 billion, down 3% year-on-year, topping the analyst consensus estimate of $4.69 billion. 

Baidu’s adjusted earnings per ADS of $2.37 beat the analyst consensus estimate of $2.35. The stock price slid after the print.

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Segments: Baidu’s Core revenue remained flat year over year at $3.78 billion; Online marketing revenue declined by 4% year over year to $2.68 billion. Non-online marketing revenue grew 12% year over year to $1.10 billion, driven by the AI Cloud business. 

Revenue from IQIYI, Inc (NASDAQ: IQ) decreased 10% year over year to $1.03 billion, beating the analyst consensus estimate of $1.02 billion. 

Baidu’s ...

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