Baidu's Q2 earnings in focus post robotaxi license

Baidu’s Q2 earnings in focus post robotaxi license

As the week nears a close, we focus on Baidu, Inc. (NASDAQ: BIDU) among other companies which are expected to announce their earnings report.

Baidu, Inc.

Baidu, Inc. (NASDAQ: BIDU) is slated to release earnings after the market close on August 30, 2022. The report will cover the fiscal second quarter, which ends in June 2022. The consensus EPS projection for the quarter is $1.56, according to research analysts.

The leading AI business with a solid internet base recently revealed that it has obtained the first permits in China to provide commercial fully driverless robotaxi services to the general public on open roads.

Apollo Go, Baidu’s self-driving ride-hailing service, has been granted permission to collect fares for robotaxi rides in Chongqing and Wuhan, two of China’s largest cities. The permits indicate regulatory authorities’ high acceptance and faith in the power of Baidu’s autonomous driving technology, as the regulatory permission of the expansion of autonomous vehicles (AVs) grows.

They also represent a watershed moment in China’s transportation history, paving the way for the eventual extension of driverless ride-hailing services to paying users across the country.

Rivian Automotive, Inc.

Rivian Automotive, Inc. is slated to disclose earnings after the market close on August 11, 2022. The report will cover the fiscal quarter that ends in June 2022. The consensus EPS expectation for the quarter is $-1.67, according to analyst estimates.

Brookfield Asset Management Inc

The earnings report will be released on August 11, 2022. Analysts predict the firm to announce quarterly earnings of $0.73 per share in its upcoming report, representing a +49% year-over-year change.

Revenues are predicted to be $949.31 million, a 94.8% decrease from the previous quarter. Over the last 30 days, the consensus EPS estimate for the quarter has been revised 4.71% lower to the present level. This reflects how the covering analysts collectively evaluated their initial projections during this time period.

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Zahari Rangelov

Zahari Rangelov is an experienced professional Forex trader and trading mentor with knowledge in technical and fundamental analysis, medium-term trading strategies, risk management and diversification. He has been involved in the foreign exchange markets since 2005, when he opened his first live account in 2007. Currently, Zahari is the Head of Sales & Business Development at TraderFactor's London branch. He provides lectures during webinars and seminars for traders on topics such as; Psychology of market participants’ moods, Investments & speculation with different financial instruments and Automated Expert Advisors & signal providers. Zahari’s success lies in his application of research-backed techniques and practices that have helped him become a successful forex trader, a mentor to many traders, and a respected authority figure within the trading community.
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