Baidu expected to post sharp decline in profit
Baidu is set to report its first-quarter earnings on Monday before US markets open. The company is expected to post a sharp decline in profit despite a slight increase in revenue.
The consensus EPS estimate is $1.68, representing a 34.1% year-over-year decline. Revenue is expected to be $4.65 billion, up 4.0% from the same period last year.
The earnings report will be closely watched for signs of growth in Baidu’s AI cloud business and updates on the planned IPO of its chip-making unit Kunlunxin.