Investing

Baidu.com Soars (BIDU)

Baidu_logoBaidu.com, Inc. (Nasdaq: BIDU) just posted its quarterly earnings report, and our conversions are into US Dollars rather than Chinese RMB.

The Chinese internet search giant said operating income rose about 86% and showed $1.11 net EPS and $1.23 non-GAAP EPS on a 100% gain in revenues to $117.0 million.  Estimates were $0.98 EPS on $112.5 million.  Baidu noted that Traffic acquisition costs (TAC) were $14.8 million. That TAC weighting is about 12.7% of total revenues, above the 11.2% from last quarter.

As far as guidance, the company sees Q3 total revenues ranging from$132 million to $136 million, a gain of 82% to 88% from Q3-2007 and a13% to 16% rise from this last quarter  just reported.  First Call hasrevenue projections at $135.26 million in revenues.  We’d note thatthis guidance does already reflect the anticipation of the temporarilyaltered user behavior during the Beijing Summer Olympic Games.

Baidu also said that active online marketing customers during thesecond quarter grew to over 181,000, an increase of 12.4 % from theprevious quarter.

Baidu.com shares closed down 1.25% today at $288.70.  In after-hoursright after the report we are seeing shares trade up almost $30.00north of $317.00 on active trading.  Its 52-week trading range is $161.00 to $429.19.

The last short interest data from NASDAQ showed a short interest ofjust over 4 million shares, although that is actually the lowest shortinterest since mid-March.

Jon C. Ogg
July 23, 2008

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.