Is It Finally Safe to Buy Baidu Stock?
Baidu's (NASDAQ: BIDU) stock recently jumped after the Chinese search leader unexpectedly hiked its fourth-quarter guidance amid China's economic slowdown and the ongoing coronavirus outbreak.
The company raised the midpoint of its fourth-quarter revenue guidance from 2.6% growth to 5.1% growth, and it lifted its revenue forecast for Baidu Core (which excludes its share of video streaming platform iQiyi (NASDAQ: IQ) and other non-core businesses) from 0%-6% growth to 4%-6% growth.
Baidu also expects the midpoint of its non-GAAP net income (i.e., measured without relying on generally accepted accounting principles) to nearly double as Baidu Core's non-GAAP earnings rise 50% to 55%. Analysts had anticipated just 16% earnings growth.
Source Fool.com
