Bottom fishing Baidu
Baidu (NASDAQ:BIDU) has gained 5.9% in postmarket trading after its Q3 earnings topped expectations amid strong traffic growth.
Revenues were flat at 28.08B yuan (about 3.93B); excluding revenue from announced divestitures, they rose 3%. That marks a 7% gain from last quarter, adding on to 9% sequential growth before that.
Operating income fell to 2.355B yuan (about 329M). Baidu core operating income was 5.2B yuan (726M) with a margin of 25%.
The company swung to a loss of 6.37B yuan on a GAAP basis, from a gain of 12.4B yuan; that included a noncash impairment loss of 8.9B yuan on equity investment valuation.
Non-GAAP attributable net income was 4.4B yuan.
Daily active users rose 25% to 189M in September.
For Q4, it's guiding to revenues of 27.1B-28.7B yuan (3.78B-4.02B), marking a year-over-year change of -1% to +6%.
(source : Seekingalpha.com)
Baidu is diversifying its business facing aggressive competition for online revenue from Tencent. It's smart speaker system is receiving good reviews and only rank second to Amazon. Coming on strongly is its subsidiaries, IQIYI with a total subscribers base of more than 100 million.
Weekly chart shows long term bearish trend is broken with a strong support base. Refer to Daily chart for entry.
Revenues were flat at 28.08B yuan (about 3.93B); excluding revenue from announced divestitures, they rose 3%. That marks a 7% gain from last quarter, adding on to 9% sequential growth before that.
Operating income fell to 2.355B yuan (about 329M). Baidu core operating income was 5.2B yuan (726M) with a margin of 25%.
The company swung to a loss of 6.37B yuan on a GAAP basis, from a gain of 12.4B yuan; that included a noncash impairment loss of 8.9B yuan on equity investment valuation.
Non-GAAP attributable net income was 4.4B yuan.
Daily active users rose 25% to 189M in September.
For Q4, it's guiding to revenues of 27.1B-28.7B yuan (3.78B-4.02B), marking a year-over-year change of -1% to +6%.
(source : Seekingalpha.com)
Baidu is diversifying its business facing aggressive competition for online revenue from Tencent. It's smart speaker system is receiving good reviews and only rank second to Amazon. Coming on strongly is its subsidiaries, IQIYI with a total subscribers base of more than 100 million.
Weekly chart shows long term bearish trend is broken with a strong support base. Refer to Daily chart for entry.
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keen to add some more tonight !Note
Will be adding some soon.Note
added some last night.Note
current price level at 148.54 is a strong resistance level. it might hoover around this level for a while before it breaks above due to its ChatGPT news lately , imo.....Note
The last 3 weeks show very bearish candles signalling strong selling pressure......I will be waiting patiently before going to add moreNote
156.56 has proven to be a strong resistance point after failing to break above it for several times. Good time to slowly accumulate for its foray into the ChatGPT4 industry.Note
added some last nightNote
added someNote
strange. this is probably the best AI theme China stock but it has been moving sideways for too long.......Note
one of the few China tech stocks that remain in the doldrum, severely undervalued
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.