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Baidu Inc (BIDU.P)


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Latest Key Developments (Source: Significant Developments)

Baidu USA-California Department of Motor Vehicles issues company Autonomous Vehicle Testing Permit, allowing company to test autonomous driving technologies in state
Thursday, 1 Sep 2016 12:21am EDT 

: Baidu USA - California Department Of Motor Vehicles issues company Autonomous Vehicle Testing Permit, allowing company to test autonomous driving technologies in state. . Baidu USA - "We will start testing our autonomous driving technologies on public roads very soon in California" . Baidu USA -"Baidu has already built a strong team in Silicon Valley to develop autonomous driving technologies" ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Baidu announces DuSee, new augmented reality platform for smartphones
Wednesday, 3 Aug 2016 07:00am EDT 

Baidu Inc :Announced DuSee, a new augmented reality platform developed for smartphones; DuSee will be integrated into Baidu's platform apps.  Full Article

Baidu announces Q2 2016 results
Thursday, 28 Jul 2016 04:30pm EDT 

Baidu Inc : Mobile revenue represented 62% of total revenues for Q2 of 2016 . Diluted earnings per ads for q2 of 2016 amounted to rmb6.57 ($0.99) . Baidu announces second quarter 2016 results . Sees Q3 2016 revenue down 1.9 percent . Total revenues in q2 of 2016 were rmb18.264 billion ($2.748 billion), a 10.2% increase . Non-Gaap diluted earnings per ads for q2 of 2016 amounted to rmb8.08 ($1.22) . Online marketing revenues for q2 were rmb16.939 billion ($2.549 billion), representing a 4.4% increase from corresponding period in 2015 .Qtrly traffic acquisition cost as component of cost of revenues was rmb2.908 billion ($437.6 million), representing 15.9% of total revenues, versus 12.7%.  Full Article

Baidu says buyer group withdraws offer to acquire Qiyi.com Inc
Monday, 25 Jul 2016 09:00am EDT 

Baidu Inc : Baidu announces receipt of withdrawal of buyer group's non-binding offer to acquire Qiyi.com Inc . Buyer group and Baidu had not been able to reach an agreement on transaction structure and purchase price after rounds of discussions ."online video is an important vertical for Baidu, in which iQiyi remains a key strategic partner".  Full Article

Zestfinance receives strategic investment from Baidu
Monday, 18 Jul 2016 12:40am EDT 

: Announced today that it has received a strategic investment from Baidu .Companies working together to transform financial services in China.  Full Article

Transaction Co Ltd unit enters into basic agreement with ImageWorks Corporation for Baidu Map promotion in JP
Tuesday, 12 Jul 2016 02:00am EDT 

Transaction Co Ltd <7818.T>: Says its unit TRANS. entered into basic agreement with ImageWorks Corporation, the Japan-based agency of Baidu Map . Says Baidu Map is a map service operated by Baidu Inc. .Says the unit will co-promote the Baidu Map in Japan.  Full Article

Baidu announces revised revenue guidance for Q2 2016
Monday, 13 Jun 2016 05:29pm EDT 

Baidu Inc : Baidu announces revised revenue guidance for second quarter 2016 and announces conference call scheduled for June 13, 2016 for discussion . Currently expects estimated Q2 2016 revenue to be in range of $2.807 billion to $2.823 billion . Regulatory authorities continue to review online marketing practices of medical, pharmaceutical, healthcare and other similar businesses . While review is underway, company has observed a reduction or delay in spend from a significant portion of medical customers . Revised revenue guidance for Q2 compared to previously stated range of RMB20.110 billion ($3.119 billion) to RMB20.580 billion ( $3.192 billion ) . Company has reduced number of sponsored links across platform. . High quality medical customers who have reduced or delayed spend would likely be compliant with new regulations over time .Expects spend from high quality medical customers to recover "gradually".  Full Article

Baidu signs five-year $2 mln term, revolving facilities agreement on June 8
Friday, 10 Jun 2016 06:28am EDT 

Baidu Inc : Baidu Inc Says On June 8, 2016 Co Signed A Five-Year US$2 billion term and revolving facilities agreement with a group of 21 arrangers .Facilities include $1 billion five-year bullet maturity term loan, $1 billion five-year revolving facility, priced at 110 basis points over libor.  Full Article

Moody's changes Baidu's ratings outlook to stable and affirms A3 ratings
Friday, 13 May 2016 07:07am EDT 

: Moody's changes Baidu's ratings outlook to stable and affirms A3 ratings . Moody's - Change in the rating outlook to stable reflects Moody's expectation of weaker revenue growth over the next 12-18 months for Baidu . Moody's - Expectation of weaker revenue due to the controversy related to the way it posted medical advertisements . Moody's - Baidu's revenue from the healthcare industry is also likely to be negatively impacted in the near term Source - http://bit.ly/23MYJu8 Further company coverage: [BIDU.O] (Bengaluru Newsroom; +1 646 223 8780).  Full Article

Baidu takes measures to improve online marketing services
Tuesday, 10 May 2016 09:16am EDT 

Baidu Inc : Has taken and will continue to take measures to comply with requests from PRC regulators .Intends to set aside RMB1.0 billion for compensating users who establish they were harmed by fraudulent marketing information.  Full Article


State-owned China Unicom to raise $12 billion from Alibaba, Tencent, others

HONG KONG Telecoms group China Unicom is raising $11.7 billion from about a dozen investors including tech giants Alibaba Group and Tencent Holdings , as part of Beijing's push for state-owned enterprises to be revitalized with private capital.