Revenue growth estimated at 30% in the first quarter 

Chinese (FXI) Internet giant Baidu (BIDU) is set to announce its first-quarter earnings results on April 25, 2019. Analysts expect the company to post sales of $3.61 billion in the quarter, a rise of 20% YoY (year-over-year) compared to its sales of $3.01 billion in the first quarter of 2018.

The sales of peer companies (JD), Alibaba (BABA), and Sina (SINA) are expected to rise 24%, 53%, and 8.3% respectively, in the first quarter.

What Do Analysts Expect from Baidu in Q1 2019?

Ready to put your morning scrolling to use? Sign up for Bagels & Stox, our witty take on the top market and investment news straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Earnings growth expected to fall significantly

Despite its impressive revenue growth estimates, Baidu’s non-generally accepted accounting principles EPS are expected to fall 62% YoY from $1.88 in the first quarter of 2018 to $0.71 in the first quarter of 2019.

Baidu has managed to beat analysts’ earnings estimates in each of the last four quarters. The company posted EPS of $1.97 in the fourth quarter of 2018, 12% higher than analysts’ estimate of $1.76. It posted EPS of $2.75 in the third quarter of 2018, 13.6% higher than the estimate of $2.42.

As the chart above shows, Baidu exceeded its earnings estimate of $2.39 with earnings of $3.03 in the second quarter of 2018. The company also exceeded analysts’ consensus earnings estimate of $1.52 by 24% with EPS of $1.88 in the first quarter of 2018.

Latest articles

Apple Arcade (AAPL) is a subscription gaming service that was unveiled at Apple’s annual event last week. The service will launch on September 19.

Cannabis legalization is gaining traction not only in the US but also globally. The third presidential Democratic debate was held on September 12.

Google has agreed to make a one-time settlement of over $945 million euros to the French ministry. The ministry accused Google of evading taxes.

In Q4 2018, legendary investor George Soros sold all his holding in Apple (AAPL). In Q3 2018, Apple represented around 0.2% of his total portfolio.

Jim Chanos, the founder and president of Kynikos Associates, is a long-time short-seller of Tesla stock. Tesla stock has fallen 17.5% in the last year.

Despite Aurora Cannabis's subdued results, Cowen initiated coverage on five cannabis stocks: CRLBF, GTBIF, CURLF, MMNFF, and ACRGF.