Baidu is Helping These Chinese Internet Stocks Boom Now

Chinese internet major Baidu (NASDAQ:BIDU) reported stellar numbers for Q3 and excellent Q4 guidance. The stock is up strongly and helping other Chinese internet stocks in its wake such as Sina Corp. (NASDAQ:SINA), Sohu.com Inc. (NASDAQ:SOHU), and Renren Inc. (NYSE:RENN) — all up big this morning.

Baidu (NASDAQ:BIDU) reported Q3 earning per share of $0.86 and revenues of $655 million. These numbers compared favorably with analysts’ expectations of $0.03 EPS and $619 million revenues.

Investing Insights: Baidu Inc. Earnings Cheat Sheet: Big Profit Rise.

The main drivers for the improved numbers were advertising customer hits up by 12% y-o-y and revenue per customer up 65% y-o-y. In addition the company succeeded in reducing traffic acquisition costs by almost 1%. Guidance for Q4 revenue is $691 million-$711 million better than the consensus estimate of $647 million.

  • Baidu, Inc. (NASDAQ:BIDU): The shares recently traded at $145.41, up $7.02, or 5.07%,. Its market capitalization is $50.74 billion. They have traded in a 52-week range of $94.33 to $165.96. Volume today was 5,776,723 shares versus a 3-month average volume of 10,145,000 shares. The company’s trailing P/E is 65.77, while trailing earnings are $2.21 per share. About the company: Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, pay for performance and news, MP3, and image searches.
  • Sina Corp. (NASDAQ:SINA): The shares recently traded at $89.59, up $2.2, or 2.52%,. Its market capitalization is $5.88 billion. They have traded in a 52-week range of $54.12 to $147.12. Volume today was 1,398,574 shares versus a 3-month average volume of 6,643,320 shares. The company’s trailing earnings are $-0.70 per share. About the company: SINA Corporation is a global Internet media company operating Chinese-language destination sites. The Company offers a network of branded content and services targeting people of Chinese descent worldwide. SINA.com offers online news, entertainment, community, and commerce through web sites that are produced and updated by local teams in China, Hong Kong, Taiwan, and North America.
  • Sohu.com Inc. (NASDAQ:SOHU): The shares recently traded at $66.74, up $2.56, or 3.99%,. Its market capitalization is $2.56 billion. They have traded in a 52-week range of $46.35 to $109.37. Volume today was 466,640 shares versus a 3-month average volume of 1,939,890 shares. The company’s trailing P/E is 15.91, while trailing earnings are $4.19 per share. About the company: Sohu.com Inc. operates an Internet portal in China. The Company’s Web site consists of Chinese language Web navigational and search capabilities, Web-based communications services, and a platform for e-commerce services.
  • Renren Inc. (NYSE:RENN): The shares recently traded at $6.69, up $0.59, or 9.67%,. Its market capitalization is $2.62 billion. They have traded in a 52-week range of $4.50 to $24.00. Volume today was 1,362,348 shares versus a 3-month average volume of 3,414,070 shares. The company’s trailing earnings are $-0.85 per share. About the company: Renren, Inc. operates an Internet website. The Company operates a real-time social networking website that offers users the ability to communicate, share information and user-generated content, play online games, listen to music, shop for deals, and use other services.

Investing Insights: Are Chinese Internet Stocks Making a Comeback?