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Full text | Baidu Q3 earnings conference record: expected to release new version Wenzhen early next year
Baidu (Nasdaq: BIDU; HKEX: 9888) released the financial report for the third quarter of 2024 ending on September 30th today: total revenue was 33.6 billion yuan, a 3% year-on-year decrease. The net income attributable to Baidu was 7.6 billion yuan. Using non-US GAAP, the net income attributable to Baidu was 5.9 billion yuan. After the financial report was released, Baidu's Chairman and CEO, Robin Li, President of the Mobile Ecosystem Business Group, Lu Rong, President of the Intelligent Cloud Business Group, Shen Dou, and Acting CFO He Junjie and other executives attended the subsequent earnings conference call to explain the key points of the financial report and answer analysts' questions. The following is the analysis and Q&A section.
Overnight news: usa stocks show mixed results, nvidia's revenue nearly doubled year-on-year, Q4 guidance failed to impress Wall Street, and the import volume at the busiest ports in usa continues to rise significantly.
For more global financial news, please visit the 24-hour real-time financial news market closing: Dow Jones up 140 points, S&P flat, market focuses on Nvidia's financial report. Top 20 US stock turnover on November 20: Bitcoin concept stock MicroStrategy's market cap exceeds 100 billion US dollars. China concept stocks on Wednesday had mixed performances, Full Truck Alliance up 15%, Wunong Zhixing down 8.2%. US WTI crude oil fell 0.75% on Wednesday, New York futures gold rose 0.8%, back above $2650. Major European stock indices collectively fell, with the German DAX30 index down 0.26%. Nvidia's revenue increased by 94% year-on-year.
Oppenheimer Maintains Jefferies Financial(JEF.US) With Buy Rating, Cuts Target Price to $82
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Jefferies Financial reportedly hired Jason Lam as the head of Asia's TMT trading business.
Informed sources revealed that jefferies financial has hired Jason Lam as the head of technology, media, and telecommunications (TMT) investment banking business in asia, as the usa company is currently strengthening its business in the region. Anonymous sources, who declined to be named due to the confidential nature of the matter, stated that Lam will be based in Hong Kong in a newly established position to help jefferies expand its TMT business in asia. The sources mentioned that Lam previously worked at cr holdings, where his most recent position was executive director and vice chairman of the board of directors. According to informed sources, before that, he was a co-head of the asia technology division at Credit Suisse.
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