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Is Baidu Stock a Buy Now?

TheMotleyFool

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Baidu's (NASDAQ: BIDU) stock rallied 14% on May 26 after the Chinese tech giant posted its first-quarter earnings report. Its revenue rose 1% year over year to 28.41 billion yuan ($4.48 billion), which beat analysts' estimates by $320 million. Its adjusted net income declined 10% to 3.88 billion yuan ($612 million), or $1.77 per American Depository Share (ADS), but still easily surpassed analysts' expectations by $0.94.

Baidu's growth rates were tepid, but investors had already tempered their expectations over the past year as China's tech sector was repeatedly rattled by regulatory and macroeconomic headwinds. Should investors consider Baidu to be a potential turnaround play at these levels?

Image source: Getty Images.

Source Fool.com

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