BIDU Earnings Review: Baidu's Q2 2024 Financial Performance
BIDU Earnings Overview
Baidu, Inc. (NASDAQ: BIDU) has announced its Q2 2024 earnings results. The adjustments reflect a decline in profits alongside nearly unchanged revenues year-over-year.
Total Revenues Analysis
For the June quarter, total revenues for the China-based technology giant were RMB33.9 billion ($4.67 billion), which remained steady compared to the previous year.
Adjusted Earnings Performance
- Adjusted earnings fell to RMB21.02 per ADS ($2.89 per ADS) from RMB22.55 per ADS in Q2 2023.
- Net income, on an unadjusted basis, was RMB15.01 per ADS ($2.07 per ADS).
User Metrics
The Baidu app reported 703 million monthly active users at the end of the quarter, reflecting a 4% year-over-year increase.
Prior Performance Context
This earnings release emphasizes the prevailing trends affecting internet search engines amidst the post-COVID-19 landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.