Investing.com - Baidu (NASDAQ:BIDU) reported on Monday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Baidu announced earnings per share of 2.77 on revenue of 24.12B. Analysts polled by Investing.com anticipated EPS of 3.72 on revenue of 22B. That with comparison to EPS of 2.77 on revenue of 24.12B in the same period a year before. Baidu had reported EPS of 26.54 on revenue of 28.88B in the previous quarter. Analysts are expecting EPS of 8.53 and revenue of 25.68B in the upcoming quarter.
Baidu shares are down 14% from the beginning of the year , still down 27.00% from its 52 week high of 147.38 set on January 13. They are under-performing the Nasdaq which is up 2.16% year to date.
Baidu follows other major Technology sector earnings this month
Baidu's report follows an earnings beat by Microsoft on April 29, who reported EPS of 1.4 on revenue of 35.02B, compared to forecasts EPS of 1.27 on revenue of 33.66B.
Apple had beat expectations on April 30 with second quarter EPS of 2.55 on revenue of 58.31B, compared to forecast for EPS of 2.24 on revenue of 54.78B.
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