Baidu has already lost over $60 billion since its peak — and earnings are expected to fall further
— which have collectively been named "BAT." But it's facing an increasingly tough advertising market, and has been falling behind the other two rivals.
Earnings per share of 2.91 yuan, according to Refinitiv estimates. If achieved, that would be a more than 83% year-on-year decline. Baidu has been investing heavily in its own mobile offering. It has an app where users can search and watch videos as well as a number of other functions. The company announced last week that the number of daily active users on the app had surpassed 200 million.
"We are leveraging Baidu AI to provide enterprise solutions to businesses and local governments, which significantly expands our total addressable market," Baidu CEO Robin Li said in the first-quarter earnings statement.
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