From Nasdaq: 2024-05-13 10:41:00

Baidu, Inc. (BIDU) is set to report first-quarter 2024 results on May 16. The Zacks Consensus Estimate for revenues is $4.31 billion, a 4.9% decline year over year. Earnings are estimated at $2.30 per share, down 1.7%. BIDU’s earnings beat estimates by an average of 17.14% in the last four quarters.

Factors like Baidu’s AI business strength, Baidu Cloud performance, and partnerships with companies like Samsung, Honor, and Autohome are expected to boost its first-quarter performance. However, impacts of higher spending and competitive pressures may impact the company negatively.

NVIDIA (NVDA), Abercrombie & Fitch (ANF), and Costco Wholesale (COST) are worth considering as they have a strong chance of beating earnings estimates in their upcoming releases. NVIDIA’s earnings estimate is $5.49 per share for the first quarter, while ANF and COST are also expected to show significant growth in earnings compared to the prior-year quarter.



Read more at Nasdaq: Baidu (BIDU) to Report Q1 Earnings: What’s in the Offing?