BIDU - Baidu, Inc.
| Previous close | 118.20 |
| Open | 118.74 |
| Bid | 116.88 x 800 |
| Ask | 117.00 x 900 |
| Day's range | 116.76 - 119.75 |
| 52-week range | 93.39 - 196.00 |
| Volume | 3,834,596 |
| Avg. volume | 4,143,106 |
| Market cap | 40.558B |
| Beta (3Y monthly) | 1.73 |
| PE ratio (TTM) | 9.12 |
| EPS (TTM) | 12.83 |
| Earnings date | 6 Nov 2019 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 143.72 |
- Zacks
Top Ranked Momentum Stocks to Buy for November 15th
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- Zacks
Baidu, Live Nation Entertainment, CME, MarketAxess and Nasdaq highlighted as Zacks Bull and Bear of the Day
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- Zacks
BIDU vs. SHOP: Which Stock Is the Better Value Option?
BIDU vs. SHOP: Which Stock Is the Better Value Option?
- Bloomberg
Tencent's Greatest Strength: It's Not Alibaba
(Bloomberg Opinion) -- To understand how different China’s two largest internet companies are, take a look at the revenue breakdown for Tencent Holdings Ltd. As a provider of social media, games and financial services, Shenzhen-based Tencent merely dabbles in advertising. E-commerce giant Alibaba Group Holding Ltd. is built on it. That divergence could end up being Tencent’s greatest strength as it seeks to climb out of a prolonged funk that’s seen revenue slow and profit fall.While Alibaba and other Chinese internet companies such as Baidu Inc. and startup ByteDance Inc. battle it out for a share of advertising in an increasingly competitive market, Tencent has the chance to leverage its core strengths of games and social networking. That can make it less beholden to the ad business, which was its largest area of weakness in what was a very tepid quarter for the company.Tencent posted third-quarter revenue growth of 21% late Wednesday. That’s not the worst on record, but it wasn’t great. Ads contributed 19% of revenue, down from 20.2% a year earlier. In fact, that prior figure was a record. As recently as three years ago, ads accounted for just 12.3% of the top line. Alibaba, on the other hand, gets half its sales from advertising and around 22% from commissions.Advertising was the biggest area of weakness for Tencent, climbing a relatively lackluster 13%. It was hurt by a slowdown in the auto sector while “uncertain content scheduling and lower sponsorship” brought down revenue from ads placed alongside its various streaming services such as sports and self-produced drama series.Investors can expect this to turn around, but thankfully they won’t need to rely on it because Tencent is so diversified.The Alibaba versus Tencent divide worked against the latter’s share price over the past few months because investors remained concerned about its ability to sail through regulatory and economic storms. Clouds hang over the gaming business as the Chinese government continues a campaign against addiction that’s forced companies to implement stricter controls. Alibaba, on the other hand, benefited from an anticipated Hong Kong IPO and revenue growth that was largely driven by recent acquisitions. It’s understandable that investors remained gun-shy after last year’s crackdown on games, which prevented companies from monetizing new titles. Tencent management was pragmatic enough to ease up on marketing at that time, recognizing that there wouldn’t be a lot of business to chase as long as Chinese regulators put the brakes on that sector. With online games being the company’s largest division, at a third of revenue, even reduced expenditure couldn’t prevent the fiscal pain.The social-networks unit, at around 23% of sales, was also affected since it includes mobile games and other offerings such as video subscriptions and sports broadcasts. While controversy over the NBA forced Tencent to halt some basketball broadcasts last month, a bigger risk to Tencent Video is increasing censorship that will encroach on self-developed productions. Management hinted at such troubles by referencing “the unexpected delay of certain top-tier drama series” in its August investor conference, which it pointed to again in this earnings statement.And yet, Tencent’s management team has become experts in navigating Beijing’s political whims. It implemented the “Healthy Gameplay System” two years ago to combat addiction, which gave it the confidence to claim late Wednesday that “recent regulations that limit younger players’ game play will have limited additional impact to our business.”Tencent also returned from the games freeze with a new patriotic title called Homeland Dream, which topped the charts within days of its debut at the end of September. That helped push smartphone games revenue 25% higher in the third quarter. Expect the company to show similar pragmatic patriotism when it develops new drama series. I’d go so far as predicting that Tencent will say it wants to broadcast more Chinese sports leagues. Hint: President Xi Jinping is known to be a soccer fan.Harder to skirt, however, is an economic slowdown in China that’s impacting the advertising sector. This is worsened by increasing competition from upstarts like ByteDance’s Douyin short-video service (its international version is called TikTok).While many cheered Alibaba’s 40% increase in September-quarter sales, they missed the fact that China customer-management revenue (the company’s code phrase for ads) climbed just 25%. The remaining growth came chiefly from new businesses such as groceries and offline retail. By contrast, Tencent was able to lean not only on smartphone games, but also its fintech and business-services unit, where revenue rose 36%. I argued earlier this week that the company should spin off its fintech division, and these results bolster that thesis.It’s hard to argue that Tencent’s latest earnings are stellar. But at least its has a unique story to tell, one that doesn’t rely on it competing with a giant.To contact the author of this story: Tim Culpan at tculpan1@bloomberg.netTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.net, Beth WilliamsThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Bloomberg
Tencent Falls $90 Billion Behind Alibaba After NBA China Row
(Bloomberg) -- Just a year ago, Tencent Holdings Ltd. locked up one of the most coveted media franchises in the country when it paid $1.5 billion for five years of exclusive streaming rights to National Basketball Association games. A single tweet changed all that.Now, the Chinese social media giant may have to suspend airing those matchups -- which drew half a billion viewers last year -- after Houston Rockets General Manager Daryl Morey triggered a media blackout in China by tweeting support for Hong Kong’s pro-democracy protests. That sums up a disappointing 2019 for a company that looked like it was back on track after a horrendous 2018.At stake now for Tencent are billions of dollars in ad and subscription revenue, along with its strategy of becoming a go-to online destination for entertainment beyond gaming. Tencent was supposed to hit the comeback trail this year after a nine-month freeze on game approvals gutted its most profitable business in 2018. But a sharp Chinese economic slowdown, competition from up-and-comer ByteDance Inc. for internet traffic and advertising, and now tricky political considerations is snarling that recovery. That’s a key reason its stock has vastly under-performed arch rival Alibaba Group Holding Ltd. this year, creating a gap of more than $90 billion in their market valuation.“One of China’s biggest companies, who does everything right politically, stands to lose billions due to the political issues outside of its control,” Mark Tanner, founder and managing director of Shanghai-based consultancy China Skinny. “We’ve seen how the company has toed the line with the gaming rules recently and I expect they will be even more careful with this one.”Read more: Tencent-Against-Alibaba Bet Could Have Made 29% This YearPolitical issues aside, Tencent’s 2019 has not gone as well as investors anticipated. The company is projected to report barely any growth in net income when it announces September-quarter results Wednesday, because revenue growth is barely keeping up with the pace of spending on ever-costlier content and servers for its cloud and media services.Read more: Tencent Gets ‘Wakeup Call’ From China’s Assertions of PatriotismBut things are improving in its core gaming business, which still yields the majority of Tencent’s revenue. Widely ridiculed at the outset because of built-in party propaganda slogans -- the military advised on the project -- and family friendly gore-free rubric, 2019’s Peacekeeper Elite evolved into a breakout hit approaching the scale of longstanding cash cow Honour of Kings. Tencent’s shares climbed 2.2% Tuesday after Sensor Tower data showed the company’s gaming revenue gained 13% during the week of Oct. 28, led by Peacekeeper Elite.Yet uncertainty shrouds the division as well. Earlier this month, state media reported that the nation’s publications regulator will cap online game playing time at 1.5 hours per day for children, a big demographic for Tencent’s mobile games.What Bloomberg Intelligence Says“Tencent may deliver accelerating growth for its mobile games business, but its online advertising segment could stay tepid. 3Q mobile games’ sales growth could be the strongest in six quarters, based on Sensor Tower estimates. This is likely to be driven by the resilience of Honour of Kings, explosive growth of Peacekeeper Elite, and the low comparison base from 3Q18 stemming from China’s freeze on game approvals in March 2018.”\- Vey-Sern Ling, analystClick here for the research.The WeChat operator has lost $86 billion of market value since its April peak, and in October tested a key support level -- which would have precipitated a sharp and longer-term downtrend. At the time, trading floors were abuzz with talk about generally souring sentiment from investors in China, as well as concern that Tencent’s decision to resume live-streaming NBA games may backfire.Longer term, the worry is that Tencent may be losing its golden touch.ByteDance came out of nowhere in 2017 to humiliate the social media titan, betting presciently on the short-video craze that birthed its Douyin and TikTok apps and forcing Tencent to mimic its much smaller rival. ByteDance is now flooding the market with ad inventory, depressing prices for incumbents such as Tencent and Baidu Inc.That’s important because Tencent looks at advertising as a potential growth catalyst, given its lower ad load relative to its rivals -- and ByteDance has shown that the Chinese company can’t predict every trend or potential rival.The NBA brouhaha “places further pressure on Tencent’s advertising revenue. More broadly, Tencent’s advertising business faces structural declines in video advertising revenue and increased competition from ByteDance,” said Michael Norris, research and strategy manager at Shanghai-based consultancy AgencyChina.Read more: TikTok Owner ByteDance Aims to Build Global Reach Before IPO(Updates with weekly gaming and shares in the seventh paragraph)To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Edwin Chan, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Alibaba Seals $38 Billion Singles’ Day Sales Record
(Bloomberg) -- Alibaba Group Holding Ltd. logged more than 268 billion yuan ($38.3 billion) of purchases during its Singles’ Day bonanza, exceeding last year’s record haul after a 24-hour shopping marathon.An estimated half-billion shoppers from China to Russia and Argentina swarmed the e-commerce giant’s sites to scoop up everything from Apple Inc. and Xiaomi Corp. gadgets to Ugandan mangoes. The company again hosted a televised entertainment revue in Shanghai to run alongside the bargain-hunting, this time enlisting Taylor Swift and Asian pop icon G.E.M. to pump up sales.The world’s largest shopping event has become an annual ritual for Asia’s largest company, part showcase of commercialism and part publicity blitz. Also referred to as “Double 11” because it falls on Nov. 11, it’s closely watched by investors keen to gauge how willing Chinese consumers are to spend as economic growth threatens to slip below 6%.Tensions between Washington and Beijing continue to fuel uncertainty and roil global commerce. Among China’s largest corporations, Alibaba is expected to better ride out the storm, thanks to booming online consumption in the world’s No. 2 economy. On Sunday, Alvin Liu, a Tmall general manager, said Alibaba doesn’t expect any impact on its cross-border import business from an ongoing trade spat.“Alibaba will probably be the one that will be able to circumvent and come out from the trade war in better shape” versus Baidu Inc. and Tencent Holdings Ltd., Richard Wong, head of ICT for the Asia Pacific at Frost & Sullivan, told Bloomberg Television. “The current sentiment and confidence in terms of spending is still relatively high.”While Alibaba and its rivals routinely trumpet record sums in the event’s aftermath, it’s unclear how much Nov. 11 sales actually will contribute to the bottom line given the enormous discounting involved. A good result however could bolster Alibaba’s effort to raise as much as $15 billion in a landmark Hong Kong share sale this month, according to people familiar with the matter.Singles’ Day emerged as a uniquely Chinese antidote to the sentimentality surrounding Valentine’s Day. Emerging on college campuses across the country, it takes its name from the way the date is written numerically as 11/11, which resembles “bare branches,” a local expression for the unattached.It’s now become an excuse for people to splurge. Last year, sales at Alibaba climbed 27% to 213.5 billion yuan, equivalent to $30.7 billion at the time. This time, purchases grew 26% from the year earlier. More merchandise is sold online over the 24-hour period than during the five-day U.S. holiday buying spree that begins on Thanksgiving and ends on Cyber Monday.Alibaba’s U.S. traded shares were down 1.9% Monday to $183.70 at 11:25 a.m. in New York.Alibaba saw 100 million new users join the shopping festival this year, according to Jiang Fan, president of the company’s e-commerce marketplaces Taobao and Tmall.“This is the power of expanding into less developed regions,” he said. “We hope this event can help more factories and farmers.”Read more: Alibaba Said to Seek Up to $15 Billion in Hong Kong ListingIt’s Time for Alibaba to Slay Jack Ma’s Monster: Tim CulpanBut the company faced stiff competition this year from smaller platforms including JD.com Inc. and Pinduoduo Inc. -- the aggressively expanding upstart that’s encroaching on the market leaders’ turf. They vied for the wallets of Chinese shoppers particularly in relatively untapped rural areas. All employ heavy discounting and hard-sell tactics in the run-up to and during the 24 hours in a bid to best the previous year’s record.“Overall, we think this year will likely see a more competitive Double 11 period,” Ella Ji, an analyst at China Renaissance Holdings Ltd., said in a report. “We anticipate each platform will spend more on subsidies.”Daniel Zhang, who took over as Alibaba chairman from billionaire Jack Ma in September, pioneered the show in its present form in 2015. The Singles’ Day impresario passes the baton this year to Fan, a potential successor to Zhang himself.“Over the years, we’ve seen consumers become more diverse and younger. Each generation of consumers needs their own peers to serve them,” Zhang said in a post on Alibaba’s blog. “I think this young team is the future.”The 2019 edition came with slight twists to the formula. Alibaba, stung by criticism it harmed the environment by shipping an estimated 1 billion packages in a single day -- has enjoined its logistics arm Cainiao to set up recycling centers at 75,000 locations. It says it will also work with courier companies to pick up used boxes and wrapping.An expansion into Southeast Asia and less-developed areas in China plus newer services -- such as transactions on food delivery site Ele.me, grocery store chain Hema and travel service Fliggy -- bolstered the total. The company also brought in livestreamers including Kim Kardashian to appeal to younger buyers.Other aspects remained the same. Singles’ Day has always been an opportunity for Alibaba to test the limits of its cloud computing, delivery and payments systems. Leaving little to chance, Alibaba sent teams across the nation ahead of Nov. 11 to help myriad outlets prepare for the festival. Some 200,000 brands had been expected to participate in 2019‘s edition of the festival.“Singles’ Day is becoming popular outside of China, especially in the ASEAN region,” said Patrick Winter, Ernst & Young Asia Pacific managing partner. “You’re also seeing how it’s growing in smaller cities in China.”(Updates with new user number in tenth paragraph.)To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Molly Schuetz, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Baidu (BIDU) Soars: Stock Adds 13.5% in Session
Baidu (BIDU) saw a big move last session, as its shares jumped nearly 14% on the day, amid huge volumes.
- Investing.com
Chinese Tech Company Baidu Rises on Upgrade
Investing.com - Baidu (NASDAQ:BIDU) was higher in midday trade on Friday after the Chinese tech giant was upgraded by analysts based on its strong third-quarter earnings earlier in the week.
- Zacks
Internet Services Industry Outlook: Growth at the Cost of Rising Expenses
Internet Services Industry Outlook: Growth at the Cost of Rising Expenses
- Investing.com
Baidu Earnings, Revenue Beat in Q3
Investing.com - Baidu reported third quarter earnings that beat analysts' expectations on Thursday and revenue that topped forecasts.
- Bloomberg
Baidu’s Revenue Beat in Defiance of Slowing Economy
(Bloomberg) -- Baidu Inc. reported quarterly revenue that beat estimates after the Chinese search giant’s business proved resilient to an economic slowdown and competition from ByteDance Inc.Third-quarter revenue came in at 28.1 billion yuan ($4 billion). That was down slightly from a year earlier but exceeded the 27.5 billion yuan average of analysts’ projections. The company also projected revenue of 27.1 billion yuan to 28.7 billion yuan, generally in line with estimates. The shares jumped about 5% in extended trading.Baidu’s Netflix-style iQiyi Inc., which competes with Alibaba Group Holding Ltd. and Tencent Holdings Ltd., also reported revenue ahead of expectations. The results may assuage investors who are worried that the 19-year-old company is losing advertising sales to upstart ByteDance, which offers lower rates and more than a billion users on popular apps such as video services TikTok and Douyin. ByteDance also recently entered the online search business, Baidu’s main product. To offset a slowdown, the company has reduced spending.What Bloomberg Intelligence SaysBaidu’s sales growth may pick up mildly in the coming quarters as advertisers’ demand stabilizes and increases in competitive ad inventory slow. The company is building its own content ecosystem using Baijiahao, smart mini-programs and managed landing pages in a bid to retain users for its search engine, which is increasingly blocked from accessing competitor apps.\- Vey-Sern Ling, analystClick here for the research.Longer term, China’s economy is growing at its slowest pace in 30 years, which could diminish spending on Baidu ads. The company fell off the list of China’s five most valuable internet companies, trailing Meituan Dianping and NetEase Inc., after shedding more than 30% of its market value this year. In May, it posted its first loss since going public in 2005.(Updates with BI analyst’s comment in the fourth paragraph. A previous version of the story corrected currency of outlook in the second paragraph.)To contact the reporter on this story: Zheping Huang in Hong Kong at zhuang245@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Colum Murphy, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Financial Times
Tougher cost controls help China’s Baidu top forecasts
Baidu’s sales stagnated in the third quarter but an improving bottom line sent the US-listed shares of China’s dominant search engine more than 5 per cent higher. The company’s third-quarter revenue reached Rmb28.1bn ($4bn), down slightly year-on-year but ahead of analysts’ estimates of Rmb27.5bn, according to Bloomberg. Revenue growth has slowed or stalled in recent quarters, due in part to business divestment, but analysts pointed to its improving bottom line, driven by cost controls, as a sign for optimism.
- Zacks
5 Top Big Cap Earnings Charts
Big cap stocks have outperformed. Are big cap stocks still the place to invest?
- Financial Times
Baidu video growth helps revenue top forecasts
Baidu recorded stronger revenue than forecast in the September quarter amid growth in video streaming, sending US-listed shares more than 5 per cent higher. Revenue grew 7 per cent sequentially “in spite of the softening macro environment, industry-specific policy changes and self-directed healthcare initiative”, said Herman Yu, chief financial officer. Baidu said strong growth for its iQIYI video platform, cloud services and smart devices drove sales during the quarter.
- Investing.com
Top 5 Things to Know in the Market on Wednesday
Investing.com -- The WeWork fiasco drives SoftBank to a multibillion-dollar loss, while Xerox (NYSE:XRX) is eyeing a merger with HP and Saudi Arabia is leaning on its OPEC allies to prop up oil prices while it brings national champion Aramco to market. Here's what you need to know in financial markets on Wednesday, 6th November.
- GlobeNewswire
Haokan Short Videos Hit 110 Million Total Daily Active Users
BEIJING, Nov. 01, 2019 -- Baidu, Inc. (NASDAQ:BIDU) announced that the number of total daily active users of its Haokan short videos has reached 110 million across the.
- Zacks
Baidu Inc. (BIDU) Gains But Lags Market: What You Should Know
Baidu Inc. (BIDU) closed the most recent trading day at $102.93, moving +0.03% from the previous trading session.
- Yahoo Finance
Boeing CEO heads to Capitol Hill — What to know in markets Tuesday
Boeing CEO Dennis Muilenburg will take the spotlight Tuesday when he faces Congress on the one-year anniversary of the Lion Air crash.
- Bloomberg
Rubio Plans Bill to Block Federal Pensions Investing in China
(Bloomberg) -- Senator Marco Rubio plans legislation to block U.S. government pensions from investing in Chinese stocks after the board overseeing the funds put off a decision that would add exposure to China.The Federal Retirement Thrift Investment Board on Monday addressed concerns that switching the benchmark for its $50 billion TSP I Fund to mirror an index with Chinese assets would undermine U.S. economic and national security. A decision was delayed for at least two weeks, according to Kim Weaver, the board’s spokeswoman.Rubio, a Republican from Florida, called the board’s move not to reverse its plan “unacceptable’’ in a statement Monday and said he would introduce bipartisan legislation “to ensure that federal retirement savings can never be a source of wealth funding the Chinese Communist Party at the expense of our nation’s future prosperity.’’At a meeting in Washington, FRTIB’s outside consultant, Aon Hewitt, reiterated its recommendation for the fund to resemble the MSCI All Country World ex-U.S. Investable Market Index, said Weaver. China is the third-largest country weight in that index, representing about 7.5%.The 2017 decision by the TSP board to increase U.S. government workers’ pension fund exposure to Chinese stocks -- and the debate over potentially sticking to that decision -- has come under fire from some in the Trump administration and a bipartisan group of lawmakers.A spokesman for Rubio said the bill, which does not yet have co-sponsors, would preclude the savings plan from investing in products or stocks in countries where the Public Company Accounting Oversight Board is restricted from accessing financial accounting information.The Chinese government has long refused to allow the PCAOB to examine audits of firms whose shares trade on the New York Stock Exchange, Nasdaq and other U.S. platforms. Alibaba Group Holding Ltd. and Baidu Inc. are among Chinese companies that have raised billions of dollars in the U.S. while avoiding PCAOB scrutiny, something the two countries have fought over for more than a decade.Trump administration officials have been meeting to discuss the matter for several months. While limiting investment in China is being pushed by hawks inside the administration, even those who are perceived as less hardline have come around to the idea, people familiar with the internal deliberations said.According to Weaver, the board will meet again on Nov. 13 to discuss the information presented by the outside consultant, but cautioned that it’s not certain it will reach a decision at that meeting.Aon argued Monday that switching the benchmark would help the I Fund better match non-U.S. international equity markets and also result in a better risk return, according to documents obtained by Bloomberg. The documents also show that of the 20 largest public defined benefit plans, all of those invested in emerging-market equities have China exposure, arguing that the change to mirror the MSCI All Country World Index would be in line with other large defined contribution plans across the U.S.Board members at the meeting asked questions including how other target date funds offer international coverage and what plan peers do or don’t do, Weaver said.Last week, a bipartisan group of senators including Rubio and Jeanne Shaheen, a Democrat from New Hampshire, urged FRTIB Chairman Michael Kennedy again to reverse what they called a “short-sighted decision” to invest the retirement savings of civil servants and military personnel into companies tied to the Chinese government.The Secretary of the Navy Richard Spencer in a Wall Street Journal op-ed titled “Servicemen’s Savings Shouldn’t Fund Russia and China’’ warned that a change in federal pension policy “will have perverse consequences.’’“Imagine retiring after a long career serving in uniform, only to learn that your savings all those years had helped fund advanced weapons systems for America’s adversaries. This tragedy will soon become reality unless a decision by the Federal Retirement Thrift Investment Board is immediately reversed,’’ Spencer wrote in the Oct. 23 article.China hawks outside the government have also pushed the board to reverse its decision and, if necessary, have the Trump administration use executive power to scuttle the move. They argue that Americans are harmed by channeling money into Chinese firms that are allegedly involved in human-rights violations and at the center of U.S. national security concerns.The hawks illustrate the paradox of funneling money to Chinese firms and the threat it poses by citing companies like ZTE Corp., which was accused of violating Iran and North Korea sanctions, or Hikvision, which the Commerce Department this month added to an export blacklist, accusing it of being implicated in human rights violations against Muslim minorities in the country’s far-western region of Xinjiang.To contact the reporters on this story: Jenny Leonard in Washington at jleonard67@bloomberg.net;Ben Bartenstein in New York at bbartenstei3@bloomberg.netTo contact the editors responsible for this story: Carolina Wilson at cwilson166@bloomberg.net, Alister Bull, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Oilprice.com
Tesla’s Tipping Point: Breaking Into China
Elon Musk believes China will be the tipping point that leads to Tesla dominating the global EV market, but there is a long way to go before that dream becomes a reality
- Bloomberg
Assessing the Health of Chinese Internet Companies
Nov.06 -- Richard Wong, vice president and head of ICT for Asia Pacific at Frost & Sullivan, talks about Chinese internet companies. Baidu Inc. reported quarterly revenue that beat analysts’ estimates after the Chinese search giant’s business proved resilient to an economic slowdown and competition from ByteDance Inc. Wog speaks with Shery Ahn and Haidi Stroud-Watts on "Bloomberg Daybreak: Asia."
