Baidu, Inc. (BIDU:NSD) is set to announce its Q4 fiscal 2022 results on February 22 before the market opens. The Street expects earnings of $2.01 per ADS, up 19% YoY, and revenues of $4.68 billion, down 9.8%. Although Baidu has exceeded the Street’s bottom-line expectations for the last 12 quarters, the Q4 results might be impacted by COVID-19-related lockdowns, regulatory hurdles, and US-China trade tensions.
However, Baidu’s AI Cloud business and autonomous ride-hailing service, Apollo Go, may have supported the company’s performance. According to the Stock Target Advisor, Baidu’s total global visits to baidu.com climbed 13.9% YoY, indicating that the demand for the company’s products remained strong.
BIDU stock has a Strong Buy consensus rating with an average stock price target of $169.50, implying a 13.5% upside potential from the current levels.
Company Profile:
Baidu, Inc. offers internet search services in China. It operates through Baidu Core and iQIYI segments. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; and Haokan, a short video app.
Baidu, Inc. has strategic partnership with Zhejiang Geely Holding Group. The company was formerly known as Baidu.com, Inc. Baidu, Inc. was incorporated in 2000 and is headquartered in Beijing, China.
