How did BIDU's Q3 2024 EPS surprise investors?

**Baidu's Q3 2024 EPS did not meet investor expectations.** Here are the details:

1. **EPS Performance**: The EPS for Q3 2024 was -$0.12, which was a surprise compared to investor expectations. This indicates that the company's performance for the quarter was lower than anticipated.

|code|Ticker|Name|Date|EPS Surprise|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|BIDU|BIDU.O|Baidu|2023 Q4|0.6|0.1197199925|185|
|BIDU|BIDU.O|Baidu|2024 Q1|0.54|0.257607024|185|
|BIDU|BIDU.O|Baidu|2024 Q2|0.34|0.2586966104|185|
|BIDU|BIDU.O|Baidu|2024 Q3|-0.12|0.384746922|185|

2. **Revenue and Profitability**: Despite the negative EPS surprise, Baidu's revenue for the quarter was CN¥33.6 billion, which was slightly higher than the predicted CN¥33.43 billion. Net income saw a 14% rise to CN¥7.63 billion ($1.09 billion), with profit margin increasing to 23% from 19% in Q3 2023. This suggests that the company is improving its profitability despite the revenue decline.
3. **Market Reaction**: Baidu's stock price fell by 5.13% following the earnings release. This could be due to the negative EPS surprise and concerns about the company's growth prospects.

In conclusion, while Baidu's Q3 2024 earnings showed improvements in net income and profit margin, the negative EPS surprise and slight revenue decline led to a negative market reaction.