6-K
BAIDU, INC. filed this Form 6-K on 02/14/2018
Entire Document
 


This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act. This press release is not intended to, and does not, constitute an offer to sell or a solicitation of an offer to purchase any securities, in the United States or elsewhere, and it is not intended to, and does not, constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the issuer and management, as well as financial statements.

Financial Guidance

For the first quarter of 2018, Baidu expects net revenues to be between RMB19.86 billion ($3.05 billion) and RMB20.97 billion ($3.22 billion), representing a 25% to 32% increase year over year. Excluding disposed businesses, such as mobile games and Baidu Deliveries, the guidance represents a 29% to 36% increase year over year. This forecast reflects Baidu’s current and preliminary view, which is subject to substantial uncertainty.

Starting on January 1, 2018, Baidu adopted a new revenue accounting standard (ASC 606). The most significant impact will be the reclassification of value added tax from cost of revenues to net against revenues. If presented net of value added tax, revenues for fiscal 2017 would have been approximately 5.6% lower than currently presented. The above guidance reflects Baidu’s new reporting requirement. If presented on the same basis as 2017, gross revenues are expected to be between RMB 21.05 billion ($3.24 billion) and RMB22.23 billion ($3.42 billion), representing a 25% to 32% increase year over year.

Conference Call Information

Baidu’s management will hold an earnings conference call at 8:00 PM on February 13, 2018, U.S. Eastern Time (9:00 AM on February 14, 2018, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

 

International:    +65 67135090   
China    4006208038   
US:    +1 8456750437   
UK:    +44 2036214779   
Hong Kong:    +852 30186771   
Passcode for all regions:    4299938   

A replay of the conference call may be accessed by phone at the following number until February 21, 2018:

 

International:    +61 2 8199 0299   
Passcode:    4299938   

 

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