The stock has suffered also on account of a wave of new listings by pure‑play AI firms such as chip designers and large language model developers. The Hang Seng Tech Index, which counts Alibaba, Tencent and Baidu among heavyweights, is down 9% over the past month. Baidu’s 12-month forward consensus earnings estimate has also risen over 6% since reaching a more than three-year low late last month. Options traders are pricing in a 5.7% swing in either direction for its American Depositary Receipts after the results. That’s more than the average 4.6% fluctuation seen following the last eight quarterly reports.

Source: The Edge Markets February 26, 2026 03:58 UTC