Baidu (BIDU) will report second quarter earnings after the market closes with a conference call to follow at 9:15 PM.

Baidu has roughly two-thirds search market share in China. It also has a 58% stake in a leading video platform iQiyi (IQ).

S&P Capital IQ consensus calls for Q2 adj. EPS of $0.92 (vs. $3.09 last year) with revenue down 2.5% to $3.72 bln. Second quarter guidance calls for revenue of $3.74-3.96 bln. 

BIDU will provide third quarter revenue guidance in the press release. The S&P Capital IQ Consensus calls for revenue down 0.6% to $4.03 bln. 

TECHS:

BIDU is up 8% following better than expected results from smaller peer Sina (SINA) this morning. BIDU stock hit a six-year low last week. Earnings are expected to fall 57% this year but rebound 54% next year. 

Baidu has a $37 bln market cap and trades at ~11x EV/EBITDA with $10 bln in net cash.

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