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Baidu (NASDAQ: BIDU) has slipped 9.6% after normal working hours, after missing the slowdown in growth and earnings prospects for the current quarter.
The results were generally expected as the company focused on organic growth for users and analysts expect a stronger second half.
Revenues rose 15 percent to 24.12 billion yuan; excluding revenues from discontinued operations, they increased by 21%.
However, operating costs increased by 53% and the Company recorded an operating loss of 4.6 million yuan on a GAAP basis, however, and non-GAAP operating income declined by 93% to 401,000. yuan.
Net income fell 80 percent to 967,000 yuan from 4.82 million yuan.
Daily active users of the Baidu app have increased by 28% to 174 million euros. The number of SAUs for Haokan increased by 768% over the previous year and by 16% compared to the last quarter, reaching 22 million. In addition, the installed base of the company 's DuerOS voice assistant increased by 279% in one year to 275 million euros, with an increase of 817% in the number of monthly voice queries, reaching 2 million. , 37 billion.
The company has authorized a new $ 1 billion stock repurchase program in effect until July 1, 2020.
And he noted that Hailong Xiang, senior vice president of research sector, had resigned. Dou Shen will assume the role of Senior Vice President, Mobile Operations Supervision (formerly known as the Research Firm).
It is below consensus, for a turnover of 25.1 billion to 26.6 billion yuan for the second quarter.
Conference call at 9:15 pm ET.
Previously: Baidu lack of 0.16 dollar, online business figure (16 May 2019)
Press release
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