Baidu's Earnings Report and Market Response

Baidu reported its fourth-quarter earnings ahead of market expectations, showcasing a non-GAAP EPS of $2.63 which exceeded estimates by $0.78, alongside revenue of $4.67 billion that surpassed projections by $70 million. However, the company faced a significant decline in its stock price in Hong Kong prior to the earnings release, primarily due to CEO Robin Li's absence from a high-profile meeting with top Chinese executives and President Xi Jinping. This absence raised concerns among investors, leading to an approximately $2.4 billion loss in market value before shares marginally recovered and closed slightly higher. The company's performance highlights both strong operational results and the impact of external factors on investor sentiment in the current market environment.