Technology company Baidu Inc. (BIDU) boosted profits and earnings in the past quarter. As per the management’s assessment, there is a connection between progress and new technologies as they are introduced.
Baidu’s total revenue increased by 25 % to 28.13 billion yuan ($ 4.38 billion) in the first quarter. Its innovative initiatives have been across the board, including cloud computing, smart transportation, automated driving, artificial intelligence (AI) assistants, and more. The company also noted that EasyDL machine learning was rated No. 1 in IDC after a global survey.
Baidu Inc. (NASDAQ: BIDU) posted a non-GAAP net income of 4.3 billion yuan ($669 million) in the first quarter, equivalent to $1.89 per American depositary share. Following the above, Baidu is investing heavily in developing new technologies, impacting the bottom line. This developer positioned the company as a leader in artificial intelligence with a solid internet presence.
Baidu Inc. (NASDAQ: BIDU) has reported revenue and earnings that surpassed Wall Street’s forecasts, but the stock was down after the report was released. Management’s forecast for the next quarter corresponds roughly with analyst expectations, not the least of which is that the company’s performance has exceeded expectations. In addition to YY Live, which it recently acquired, the company expects to generate 29.7 billion yuan ($ 4.6 billion) to 32.5 billion yuan ($ 5.1 billion). Within that range is the consensus analyst estimate of $ 4.67 billion.
Baidu Inc. (BIDU) is priced at $193.31 after the most recent trading session. At the very opening of the session, the stock price was $190.37 and reached a high price of $194.20. Before closing the session, it reached the value of $193.31. The stock touched a low price of $189.7901.