Baidu, Inc. Earnings Cheat Sheet: Profit Rises by Double-Figures for Fifth Consecutive Quarter
Baidu Earnings Cheat Sheet for the Second Quarter
Results: Net income for the internet information provider rose to $252.6 million (72 cents per share), a 95% rise from a year earlier (35 cents per share).
Revenue: Rose 78.4% to $528.4 million from the year earlier quarter.
Actual vs. Wall St. Expectations: BIDU reported adjusted net income of 74 cents per share. By that measure, the company beat the mean estimate of 66 cents per share. It beat the average revenue estimate of $502.1 million.
Quoting Management: “Baidu had another excellent quarter, as we benefited from strong traffic growth and improved monetization,” said Robin Li, chairman and chief executive officer of Baidu. “We were especially encouraged with the strong spending from large customers, highlighting the increased value they saw from their marketing spend on Baidu.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the first quarter, by 4 cents in the fourth quarter of the last fiscal year, and by 3 cents in the third quarter of the last fiscal year.
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).
(Source: Xignite Financials)