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2024-02-27 22:33 | Report Abuse
Baidu's 4Q Profit Likely Flat on Higher Expenses -- Earnings Preview
Baidu is scheduled to report results for the fourth quarter on Wednesday. Here's what you need to know:
NET PROFIT FORECAST: Baidu is likely to post quarterly net profit of 4.96 billion yuan ($689.3 million), roughly matching its bottomline from a year ago but dropping 26% from the third quarter, according to a FactSet poll of 17 analysts. Analysts are forecasting the company's first sequential drop in operating profit in a year, partly due to higher SG&A and R&D costs.
REVENUE FORECAST: The Chinese search-engine company revenue is expected to reach CNY35.065 billion, up from CNY33.08 billion a year ago and CNY34.45 billion in the third quarter. Citi analysts see core ad revenue rising 6% on year and non-ad revenue up 8.4%, helped by a 1% rise in AI Cloud revenue and 3% growth in non-cloud revenue.
Baidu's Hong Kong-listed shares have fallen 6.8% since the beginning of this year after shedding 13% in the fourth quarter. Shares plunged in January after a media report that Chinese scientists had tested military AI on Baidu's Ernie bot. The company denied any links to the Chinese military. Citi analysts think the slump looks overdone as researchers may have used a publicly available version of Ernie, adding that any official or commercial use would have required a formal contract with Baidu.
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2024-02-26 14:28 | Report Abuse
GLOVE maker Sri Trang Gloves (Thailand) reported on Friday (Feb 16) a 10.1 per cent increase in net loss for the fourth quarter, despite higher sales volume and revenue.
Net loss for the three months ended Dec 31, 2023 rose to 42.3 million baht (S$1.6 million) from a 38.4 million baht loss in the year-ago period.
Sales revenue in the fourth quarter rose 11.5 per cent on year to 5.3 billion baht, on the back of higher volume.
The company said sales volume climbed 28.2 per cent on year in the fourth quarter to 8.8 billion pieces, which it attributed to a “diversified customer base and strong presence in Asia, Africa and South America, where there is strong consumption growth and a preference for latex gloves”.
However, the company noted that average selling price of gloves in FY 2023 was 605 baht per 1,000 pieces, down 24.2 per cent on year due to the “ongoing oversupply situation”.
Gross profit for the fourth quarter was down 12.4 per cent year on year to 548.4 million baht, due to higher cost of goods sold, amid higher latex costs.
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Stock: [TOPGLOV]: TOP GLOVE CORPORATION BHD
2024-02-28 10:16 |
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