Baidu Projects Q1 Core Revenue To Decline 10%-18% - Quick Facts

(RTTNews) - Baidu, Inc. (BIDU) said, for the first quarter of 2020, the company expects revenues to be between RMB 21.0 billion ($3.0 billion) and RMB 22.9 billion ($3.3 billion), representing a decline of 5% to 13% year over year, which assumes that Baidu Core revenue will decline between 10% and 18% year over year. Baidu, Inc. noted that the Coronavirus situation in China is evolving, and business visibility is very limited.

Fourth-quarter non-GAAP earnings per ADS was RMB 26.54 compared to RMB 13.42, previous year. Total revenues were RMB 28.9 billion ($4.15 billion), up 6% year over year. Revenue from Baidu Core was RMB 21.7 billion ($3.12 billion), up 6% year over year.

Baidu App's average daily active users reached 195 million, up 21% year over year, in December 2019. iQIYI subscribers reached 106.9 million in December 2019, adding 19.5 million subscribers year over year.