In after hours trading, US stock futures posted modest gains, up between 0.3% and 0.4%.
Oil prices slid again. US crude and Brent crude, the global oil benchmark, settled Thursday lower by 3.4% and 2.3%, respectively. Futures continued to fall Friday morning during Asian trading.
There have been more than 82,000 global coronavirus cases, with infections on every continent except Antarctica.
Revenue for its core business, which includes online marketing and advertising, could plunge as much as 18% year-over-year, according to the company’s guidance.
Online marketing revenue in 2019 fell 5% compared to the year before.
The online ad industry is expected to be one of the biggest “losers” of the outbreak, noted Chelsey Tam, an equity analyst at Morningstar.
“Baidu and Weibo are likely to lose out because of their large advertising exposure, which is likely to be sensitive to overall economic weakness,” she wrote in a research note last week.
The firm has been trying to turn things around, and its fourth-quarter earnings on Friday beat expectations. But it’s still not clear how much the coronavirus will take a toll.
“The coronavirus situation in China is evolving,” Baidu said in a statement. “Business visibility is very limited.”
— Anneken Tappe contributed to this report.