Baidu Non-GAAP EPADS of $1.82 beats by $0.40, revenue of $5.19B beats by $100M

• Baidu press release (NASDAQ:BIDU): Q4 Non-GAAP EPADS of $1.82 beats by $0.40.
• Revenue of $5.19B (+9.0% Y/Y) beats by $100M.
• Non-GAAP net margin for Baidu Core was 18%.
• Adjusted EBITDA was $903 million and adjusted EBITDA margin was 17%.
• Adjusted EBITDA for Baidu Core was $974 million and adjusted EBITDA margin for Baidu Core was 24%.
• iQIYI subscribers reached 99 million in December 2021.
• "Baidu Core achieved 21% revenue growth in 2021, with non-advertising revenues increasing by 71% from last year, which has been very encouraging. Looking ahead, we remain committed to healthy and sustainable long-term growth as Baidu continues to improve its overall operational efficiency and execution capabilities," said Rong Luo, CFO of Baidu.

Comments

[acpennington]

For those who are curious, the GAAP EPS was $0.71. Getting annoyed by SA only highlighting the non-GAAP numbers.

[zarock]

@acpennington
Looks like I'll need to look through their GAAP to non-GAAP calculation, that's quite a dramatic difference.

[gordonshunway]

Looks like a buy the moment BIDU ditch IQiyi

[Lbastie64]

@gordonshunway ???

[Invest20]

Ugly forecast. Short at the open, buy back at 3:59.

[pat45]

WE will see if holds especially with next two quarters not looking so good. Q1 expected down 50%. I sold the pop but did not have much

[scottiebumich]

@pat45 With an EPS <10 not sure it much else to fall!

[Jeremy94]

Doing a great job moving into cloud and AI! Management doing a great job focusing on growth segments going forward! Love to see a lot of cash on the books and growing. Considering the tough worldly environment and china still on lock down compared to the United States-imagine how things will be once China lifts or relaxes Covid restrictions!! Management is clearly doing a good job steering Baidu into the future of tech! Go Baidu!! 😀👍🏻💰💰

[Lbastie64]

1.5% of shares bought back in Q4 alone!
30$B of cash (60% of market cap).

This stock should be at 250 USD

[LJT852]

@Lbastie64 a question here, does iQIYI shares owned by Baidu count towards Cash and cash equivalents (under the item short term investments)?

If affirmative, there is only around 11B “real cash” left. Still a lot.

[zarock]

@LJT852
Baidu should still have a controlling stake in IQ, in which case its numbers should still be consolidated. However, I only see IQ listed as having about $2 billion in cash, so most of Baidu's cash should be part of Baidu proper.

In either case, shares of stock wouldn't be listed under short term investments, but rather as long-term investments. Short term investments is more for low-risk short-term bonds, CDs, money market funds and such.

[LJT852]

@zarock thank you for the clarification!

[Charles Ian Tan]

Great quarter!

[Duran75]

Looks good for a quality stock. Loading up. Don’t listen the political noise, just look at the fundamentals.

[Sid90]

@Duran75 do you feel the same way about Yandex?