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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Baidu, Inc.    BIDU

BAIDU, INC.

(BIDU)
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Baidu : Chinese social media firm JOYY calls Muddy Waters' report erroneous

11/19/2020 | 10:01am EST

(Reuters) - Chinese social networking platform JOYY Inc said on Thursday that a report by short seller Muddy Waters contained numerous errors and that it was open to cash verification conducted by competent third-party advisers.

JOYY also said it will continue with its $300 million share repurchase program to demonstrate confidence in its long-term prospects.

Muddy Waters on Wednesday called JOYY a "multibillion-dollar fraud" and decided to bet against its stock, just days after Chinese search engine giant Baidu Inc struck a deal to buy JOYY's domestic streaming platform.

"We conclude that YY's component businesses are a fraction of the size it reports, and that the company's reported user metrics, revenues, and cash balances are predominantly fraudulent," Muddy Waters had said in a report on its website. [https://bit.ly/3lErXvU https://bit.ly/3lErXvU]]

U.S listed shares of JOYY were up 14.4% at $84.24 in early trading on Thursday.

(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BAIDU, INC. -4.07% 238.87 Delayed Quote.10.47%
JOYY INC. 0.08% 90.08 Delayed Quote.12.63%
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Financials
Sales 2020 107 B 16 520 M 16 520 M
Net income 2020 22 252 M 3 434 M 3 434 M
Net cash 2020 102 B 15 760 M 15 760 M
P/E ratio 2020 24,1x
Yield 2020 -
Capitalization 528 B 81 473 M 81 473 M
EV / Sales 2020 3,98x
EV / Sales 2021 3,20x
Nbr of Employees 37 779
Free-Float 78,2%
Chart BAIDU, INC.
Duration : Period :
Baidu, Inc. Technical Analysis Chart | BIDU | US0567521085 | MarketScreener
Technical analysis trends BAIDU, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 38
Average target price 1 343,02 CNY
Last Close Price 1 547,88 CNY
Spread / Highest target 25,4%
Spread / Average Target -13,2%
Spread / Lowest Target -36,7%
EPS Revisions
Managers and Directors
NameTitle
Yan Hong Li Chairman & Chief Executive Officer
Cheng-Chun Yu Chief Financial Officer
Hai Feng Wang Chief Technology Officer
Ji An Ding Independent Director
Brent Callinicos Independent Director
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