Baidu (NASDAQ:BIDU) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥134.6b (up 8.8% from FY 2022).
• Net income: CN¥19.6b (up 181% from FY 2022).
• Profit margin: 15% (up from 5.6% in FY 2022). The increase in margin was primarily driven by higher revenue.
• EPS: CN¥55.86 (up from CN¥20.04 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Baidu EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%.

The primary driver behind last 12 months revenue was the Baidu Core segment contributing a total revenue of CN¥103.5b (77% of total revenue). The largest operating expense was Research & Development (R&D) costs, amounting to CN¥24.2b (48% of total expenses). Explore how BIDU's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Interactive Media and Services industry in the US.

Performance of the American Interactive Media and Services industry.

The company's shares are up 2.5% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Baidu's balance sheet health.

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