May 16, 2024
Why Baidu Stock Dropped After Earnings
Shares of Baidu (NASDAQ: BIDU) stock slumped as much as 5.5% this morning, despite beating earnings estimates in its first-quarter 2024 report. Analysts forecast the Chinese internet search giant would earn $2.18 per American depositary share (ADS), adjusted for one-time items, on $4.3 billion in revenue, but Baidu actually earned $2.76 per ADS on sales of $4.4 billion.