Analyst, qcAlpha Earnings Coverage, Zero One

Vincent Fernando, CFA

Analyst, qcAlpha Earnings Coverage

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

<h2>What You Need to Know</h2><ul>
<li>
<strong>Revenue increased by 10.2% YoY to RMB18.3 billion, while adjusted diluted EPS decreased by 32.6% to US$1.22. </strong>The results, while being adversely affected by the new ad regulations, still beat analyst expectations. Adjusted diluted EPS came in 24.5% higher than analyst expectations of US$0.98.</li>
<li>
<strong>Online Marketing Services growth slumps on slowing customer growth and ARPUs.</strong> Online marketing revenues only increased by 4.4% YoY compared to 2Q15’s YoY growth of 37.1%.</li>
<li>
<strong>Disappointing</strong>…</li>
</ul>

What You Need to Know

Revenue increased by 10.2% YoY to RMB18.3 billion, while adjusted diluted EPS decreased by 32.6% to US$1.22. The results, while being adversely affected by the new ad regulations, still beat analyst expectations. Adjusted diluted EPS came in 24.5% higher than analyst expectations of US$0.98.

Online Marketing Services growth slumps on slowing customer growth and ARPUs. Online marketing revenues only increased by 4.4% YoY compared to 2Q15’s YoY growth of 37.1%.

Disappointing…


BIDU 2Q16 Earnings: Growth Sputters on Regulations but Still Beats Consensus; Guidance Disappoints

Baidu

BIDU 2Q16 Earnings: Growth Sputters on Regulations but Still Beats Consensus; Guidance Disappoints