Chinese internet search leader Baidu.com, Inc. (NASDAQ: BIDU) has posted earnings and it showed in $0.92 non-GAAP EPS on $78.3 million in revenues. The estimates from First Call for the Chinese search engine are $0.71 EPS on $77.1 million in revenues. It also offered guidance of $73.1 to $75.1 million in revenues. While these revenue forecasts are growth of 93% to 99% year over year, First Call had estimates at $77.01 million in revenues on last look.
The company posted Traffic Acquisition Costs (TAC) of roughly $9.9 million or 12.7% of total revenues, compared to 8.7% in Q4-2006. The company also had an income tax benefit of $2.5 million. Baidu had $18.3 million in cash and equivalents on hand at the end of the quarter.
Analysts have an average price target north of $379.00, which is still roughly 50% higher than today’s prices.
Baidu’s shares closed up some 6% at $261.09 in normal trading and shares are up about 1% around $264.00 in after-hours trading. Shares were briefly higher on the higher EPS number, but that guidance figure may be some pause. Baidu.com, Inc.’s 52-week trading range is $92.80 to $429.19.
Jon C. Ogg
February 13, 2008
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
