Baidu Earnings: Stock Went Nowhere
Baidu Earnings Cheat Sheet
Results: Operating profit in the first quarter of 2011 was RMB1.195 billion ($182.4 million), a 125.1% increase. Net income in the first quarter of 2011 was RMB1.071 billion ($163.5 million), a 122.8% increase in the first quarter of 2011 from the corresponding period in 2010.
Revenue: Baidu reported total revenues of RMB2.436 billion ($372.0 million) for the first quarter of 2011, representing an 88.3% increase from the corresponding period in 2010.
Outlook: Baidu currently expects to generate total revenues in an amount ranging from RMB3.230 billion ($493.3 million) to RMB3.300 billion ($503.9 million) for the second quarter of 2011, representing a 68.7% to 72.4% year-over-year increase.
Performance: BIDU shares are flat.