Baidu's (BIDU, Financial) stock experienced a sudden drop of 5.00%. The stock is currently priced at $94.15 with a trading volume of 5.593 million shares and a turnover rate of 1.60%. The price fluctuation registered at 3.30%.
Recent financial data reveals Baidu achieved a revenue of $4.685 billion, a net profit of $758 million, and earnings per share of $2.17. The company's gross profit was $2.421 billion with a price-to-earnings ratio of 12.45. Institutional ratings show that out of 47 institutions, 77% recommend buying, 21% suggest holding, and 2% advised selling.
The internet information services industry, where Baidu operates, saw an overall decline of 0.51%. Within this sector, companies like Onfolio Holdings Inc, Taboola.com Ltd., and TechTarget showed significant gains, while Trump Media & Technology Group and Digital Ally, Inc. were more active, with respective turnover rates of 32.46%, 3.70%, and 3.57%. The stocks with major price fluctuations included Onfolio Holdings Inc and Trump Media & Technology Group Corp, with variations of 16.10% and 15.25% respectively.
Baidu, recognized as China's largest internet search engine by Statcounter, held over 50% of the market share in 2024. In 2023, 72% of its core income was derived from the search engine's online marketing services. Baidu is also a technology-driven company advancing in AI cloud services, video streaming, voice recognition, and autonomous driving.
A key piece of news affecting Baidu involved a recent executive rotation and organizational restructuring, drawing significant attention. Baidu announced that Luo Rong is the new Executive Vice President, overseeing Baidu's Mobile Ecosystem Group, while He Junjie has been appointed as the acting CFO, replacing Luo. These changes aim to foster Baidu's "intelligent ecosystem," a concept emphasized by CEO Robin Li.
