Baidu's Q3 Earnings: Revenue Slides, Weak Online Ads Market Impact Margins [Yahoo! Finance]
iQIYI, Inc. - American Depositary Shares (IQ)
Last iqiyi, inc. - american depositary shares earnings: 2/27 04:30 pm
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Source: Yahoo! Finance
The company's adjusted earnings per ADS of $2.37 beat the analyst consensus estimate of $2.35. Baidu's Core revenue remained flat year over year at $3.78 billion; Online marketing revenue declined by 4% year over year to $2.68 billion. Non-online marketing revenue grew 12% year over year to $1.10 billion, driven by the AI Cloud business. Revenue from IQIYI, Inc decreased 10% year over year to $1.03 billion. Baidu's SG&A expenses were $836 million, up by 2% year over year, primarily due to an increase in channel spending and promotional marketing expenses. R&D expenses declined 12% year over year to $765 million, primarily due to a decrease in personnel-related expenses. Baidu's adjusted EBITDA margin declined 200 bps to 26%, and its Core adjusted EBITDA margin decreased by 100 bps to 31%. As of September 30, 2024, Baidu had $20.59 billion in cash and equivalents and generated $376 million in free cash flow. Despite near-term challenges, Baidu remains committed to its AI-focused
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IQ
News
- iQIYI Announces Third Quarter 2024 Financial ResultsGlobeNewswire
- iQIYI Introduces Standard VIP Family and Friends Membership to Enhance Subscription Flexibility and Premium Content AccessPR Newswire
- An Intrinsic Calculation For iQIYI, Inc. (NASDAQ:IQ) Suggests It's 34% Undervalued [Yahoo! Finance]Yahoo! Finance
- iQIYI's 'Love On Theater' Premieres 'Fangs of Fortune,' Setting Benchmark for C-Drama Virtual ProductionPR Newswire
- iQIYI to Report Third Quarter 2024 Financial Results on November 21, 2024GlobeNewswire
IQ
Earnings
- 11/21/24 - Beat
IQ
Sec Filings
- 11/21/24 - Form 6-K
- 11/12/24 - Form SC
- 8/26/24 - Form SC
- IQ's page on the SEC website