Baidu (BIDU) Earnings Beat Driven By Cloud Business
b'Baidu (BIDU) earnings report indicated $2.36 in EPS, beating the estimate. Baidu autonomous ride-hailing service Apollo Go provider 287K rides in the second quarter. Baidu monthly active users reached 628M in June. "Other social media platforms are competing in terms of advertising budgets. There is great uncertainty whether any of their new businesses can be monetized successfully on a mass scale. Leadership and brand in search have been weakened by more competitors entering the market," says Lee Bohl. "Baidu (BIDU) earnings beat is likely driven by strong growth in cloud business. The question is how much longer the Chinese government plans to continue their lockdown policy. The proposed U.S. and China agreement to allow inspection of books could be a game changer," Kevin Riley adds.'