The 4 Questions Baidu Can’t Seem to Answer
Baidu's (NASDAQ: BIDU) stock price recently tumbled after the Chinese tech giant posted mixed second-quarter results; its revenue dropped 1% annually and missed expectations, and it disclosed that the U.S. Securities and Exchange Commission had launched a probe of its video-streaming subsidiary iQiyi (NASDAQ: IQ).
During the conference call, CEO Robin Li attributed the revenue slowdown to "temporary setbacks" in its online marketing business -- including a new wave of COVID-19 infections, "geopolitical tension," and "other phenomenon plaguing the economy." Li's other comments were similarly vague, and likely left investors with more questions than answers.
Here are four burning questions that Baidu's management failed to answer, and why investors should be concerned that it didn't address them.
Source Fool.com
