Baidu Expects Q4 Revenue Growth

(RTTNews) - Baidu Inc. (BIDU) Friday said it expects fourth-quarter net income of RMB 6.2 billion ($0.89 billion) to RMB 6.7 billion ($0.97 billion), which assumes that net income attributable to Baidu Core will grow between 83% to 90% year over year.

Baidu also expects adjusted profit of RMB 8.9 billion ($1.28 billion) to RMB 9.4 billion ($1.36 billion.)

For the fourth quarter, Baidu expects revenue to be in the range of RMB 28.3 billion ($4.06 billion) to RMB 28.9 billion ($4.15 billion), increasing 4% to 6% year over year, compared to its previous guidance in the range of RMB 27.1 billion to RMB 28.7 billion, or -1% to 6% increase year over year.

Baidu has revised the date to announce its unaudited financial results for the fourth quarter and fiscal year of 2019, due to the evolving situation brought upon by the outbreak of the novel coronavirus in China.

The reporting date for its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2019 has been revised to February 27, 2020.