3 Momentum Technology Stocks in Demand After Earnings
Baidu, Inc. (NASDAQ:BIDU) reported higher profit for the third quarter as revenue showed growth. Net income for Baidu, Inc. rose to $295 million (84 cents per share), a rise of 80% from the year earlier quarter. Revenue rose 85% to $654.7 million from the year earlier quarter. BIDU reported adjusted net income of 86 cents per share. By that measure, the company beat the mean estimate of 83 cents per share. It beat the average revenue estimate of $618.6 million.
Robin Li, chairman and chief executive officer of Baidu commented, “Baidu recorded stellar results in the third quarter driven by rapid growth in customer spending and user traffic. In particular, spending by large customers significantly outperformed our expectations as we continued to build strong relationships with high quality companies. China’s search industry is still in its early stages, and as the clear industry leader we see enormous room for continuing growth as users and online marketing customers become increasingly sophisticated.”
Competitors to Watch: Google Inc. (NASDAQ:GOOG), Sohu.com Inc. (NASDAQ:SOHU), SINA Corporation (NASDAQ:SINA), Yahoo! Inc. (NASDAQ:YHOO), NetEase.com, Inc. (NASDAQ:NTES), InfoSpace, Inc. (NASDAQ:INSP), Microsoft Corporation (NASDAQ:MSFT), Youku.com Inc (NYSE:YOKU), and AOL, Inc. (NYSE:AOL).
Expedia, Inc. (NASDAQ:EXPE) reported net income above Wall Street’s expectations for the third quarter. Net income rose to $209.5 million (75 cents per share) vs. $176.6 million (62 cents per share) in the same quarter a year earlier. This marks a rise of 18.7% from the year earlier quarter. Revenue rose 15.5% to $1.14 billion from the year earlier quarter. EXPE reported adjusted net income of 77 cents per share. By that measure, the company beat the mean estimate of 70 cents per share. Analysts were expecting revenue of $1.16 billion.
Competitors to Watch: Orbitz Worldwide, Inc. (NYSE:OWW), Travelzoo Inc. (NASDAQ:TZOO), priceline.com Incorporated (NASDAQ:PCLN), MakeMyTrip Limited (NASDAQ:MMYT), Ctrip.com Intl., Ltd. (NASDAQ:CTRP), eLong, Inc. (NASDAQ:LONG).
Motorola Mobility Holdings Inc. (NYSE:MMI) reported its results for the third quarter. Net income for the company was a loss of $32 million (loss of 11 cents per share). “Our third quarter revenues in Mobile Devices increased by 20 percent, driven by continued strong growth in international markets. With the recent launch of our iconic Motorola RAZR, we now have several 4G LTE devices in our portfolio. Our Home business is creating innovative solutions for our customers, taking leadership in the transition to all-IP networks, and delivering solid levels of profitability,” said Sanjay Jha, chairman and chief executive officer, Motorola Mobility. “We are also excited about the proposed merger with Google and continue to make progress to close this transaction.”
Competitors to Watch: Research In Motion Ltd. (NASDAQ:RIMM), Nokia Corporation (NYSE:NOK), Cisco Systems, Inc. (NASDAQ:CSCO), Motorola Solutions Inc (NYSE:MSI), Arris Group, Inc. (NASDAQ:ARRS), Harmonic Inc. (NASDAQ:HLIT), Cobra Electronics Corp. (NASDAQ:COBR), Blonder Tongue Labs, Inc. (AMEX:BDR), Google (NASDAQ:GOOG), BigBand Networks, Inc. (NASDAQ:BBND), and Apple (NASDAQ:AAPL).