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1. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 45

Shares of Baidu, Inc. (NASDAQ:BIDU) turned green before the opening bell today after the Chinese search engine giant posted impressive financial results for the second quarter.

Baidu, Inc. (NASDAQ:BIDU) reported adjusted earnings of $2.36 per share, smashing the consensus of $1.54 per share. Revenue came in at $4.43 billion, topping analysts’ average estimate of $4.3 billion.

In addition, Baidu, Inc. (NASDAQ:BIDU) also disclosed its segment-wise sales results. Revenue from Baidu Core slid 4 percent to $3.46 billion, while iQIYI revenue fell 13 percent to $994 million in the quarter.

Commenting on the results, CFO of Baidu, Inc. (NASDAQ:BIDU), Rong Luo, said:

“Baidu Core delivered a non-GAAP operating margin of 22% in the second quarter, up from 17% in the first quarter of 2022, as we continued to optimize our costs and enhance operational efficiency. Going forward, we remain committed to quality revenue growth and sustainable business models.”

You can also take a peek at Top 10 Stock Picks of Minerva Advisors and 10 Best Cyclical Stocks for Inflation.

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