Baidu Q1 Adj. EPS $2.76 Beats $2.30 Estimate, Sales $4.37B Miss $4.43B Estimate
Portfolio Pulse from Benzinga Newsdesk
Baidu (NASDAQ:BIDU) reported Q1 adjusted EPS of $2.76, beating the $2.30 estimate, but sales of $4.37 billion missed the $4.43 billion estimate. EPS increased by 17.95% year-over-year, while sales decreased by 3.75%.
May 16, 2024 | 9:17 am
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Baidu's Q1 adjusted EPS of $2.76 beat estimates by 20%, but sales of $4.37 billion missed expectations by 1.47%. EPS increased significantly year-over-year, but sales saw a decline.
The positive EPS surprise is offset by the sales miss and year-over-year sales decline. This mixed result is likely to have a neutral short-term impact on the stock price.
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