Baidu reported FCF of around $817M. It had $20B in liquidity. EPS came in $0.55 higher than expected at $1.47.$BIDU stock is $112 in pre-market. $BIDU, Baidu, Inc. / H1 Sure, revenue and profit is lower but Baidu already issued this forecast. The downturn in China is hurting short-term results. Fundamentally, Baidu's a strong play and should move up from here. It has plenty of cash, investments in $CTRP + $IQ, and the core business is valued at below $10 billion.At 1x revenue and 0.5x EBITDA, this stock is a steal.Upside? 50%. Q2 was a turnaround period. The company needs a Q3 turnaround to build on the positive momentum today.