Baidu Falls 3% as ROVI Climbs 3% As Investors Digest Earnings

Baidu, Inc. (NASDAQ:BIDU) reported rising profit for the fourth quarter as revenue grew as well. Earnings per share was 95 cents per share. Revenue rose to $710.90 million. BIDU reported adjusted net income of 95 cents per share. By that measure, the company beat the mean estimate of 90 cents per share. It beat the average revenue estimate of $700.3 million.

“I’m pleased to report that we closed the year with solid financial results as strong execution allowed us to benefit from exceptional market opportunities,” said Robin Li, chairman and chief executive officer of Baidu. “Over the course of 2011, we made great progress on the Baidu Open Data and Open Application platforms, executed effectively on our landing page strategy, and rolled out several new initiatives, including our personalized homepage and the Baidu Yi mobile platform.” Mr. Li continued, “In 2012, we will continue to innovate and to solidify Baidu’s central position in China’s Internet ecosystem.”

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).

Rovi Corporation (NASDAQ:ROVI) reported a drop to a loss in the fourth quarter driven by higher costs. Reported a loss of $49.3 million (46 cents per diluted share) in the quarter. Rovi Corporation had a net income of $67.2 million or 59 cents per share in the year earlier quarter. Revenue rose 26.4% to $177.2 million from the year earlier quarter. Rovi Corporation reported adjusted net income of 60 cents per share. By that measure, the company beat the mean estimate of 45 cents per share. It fell short of the average revenue estimate of $193.7 million.

“We grew our Adjusted Pro Forma revenue by 12% in 2011 and our Adjusted Pro Forma Income Per Common Share by over 30% in 2011.” said Tom Carson, President and CEO of Rovi. “I am pleased with the many successes achieved across our business in 2011.”

Competitors to Watch: Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), TiVo Inc. (NASDAQ:TIVO), News Corporation (NASDAQ:NWSA), HSW International, Inc. (NASDAQ:HSWI), Martha Stewart Living Omnimedia, Inc. (NYSE:MSO), Meredith Corporation (NYSE:MDP), PRIMEDIA Inc. (NYSE:PRM), and Barnes & Noble, Inc. (NYSE:BKS).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com