Baidu, Inc. Revises Earnings Guidance for the Fourth Quarter Ended December 31, 2019
January 31, 2020 at 04:30 pm EST
Baidu, Inc. revised earnings guidance for the fourth quarter ended December 31, 2019. For the fourth quarter 2019, the company expects revenue to be in the range of RMB 28.3 billion ($4.06 billion) to RMB 28.9 billion ($4.15 billion), increasing 4% to 6% year over year, compared to its previous guidance in the range of RMB 27.1 billion to RMB 28.7 billion, or -1% to 6% increase year over year. This forecast assumes that Baidu Core revenue will grow between 4% to 6% year over year, compared to the previous guidance between 0% to 6% year over year. In addition, the company expects net income attributable to Baidu to be in the range of RMB 6.2 billion ($0.89 billion) to RMB 6.7 billion ($0.97 billion), which assumes that net income attributable to Baidu Core will grow between 83% to 90% year over year.