Baidu Nails Q2 Earnings ReportBy: Doug Caverly - July 24, 2009
Baidu, China’s equivalent of Google, released another earnings report last night, and the company’s continuing to impress onlookers at every turn. Baidu beat analysts’ estimates and made some very positive predictions regarding the next quarter.
Here are the key stats: the company’s revenue climbed 36.7 percent on a year-over-year basis, reaching $160.7 million compared to forecasts of $158 million. Also, it reported earnings of $1.61 per share, even though analysts only expected to see something like $1.44.
Robin Li, Baidu’s chairman and CEO, explained in a statement, "Our focus on execution drove another strong quarter for Baidu. Our ongoing initiatives to improve user and customer experience further solidified Baidu’s leading market position as both large companies and SMEs are increasingly drawn to the superior ROI offered by Baidu’s P4P platform."
As for the future, Li and Baidu expect to see between $184 million and $189 million in revenue next quarter, which should represent a 15 to 18 percent increase.
All of this has led investors to virtually throw themselves at Baidu’s stock. It’s up 7.45 percent at the moment, while Google, Yahoo, and Microsoft are up 0.42 percent, down 1.67 percent, and down 9.70 percent, respectively.