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Baidu Reports a Solid Quarter, Shares up After-Hours

Submitted by WSN_Staff on Wed, 07/21/2010 - 18:27.
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Baidu, Inc. (NASDAQ:BIDU)
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Baidu (NASDAQ:BIDU) reported Q2 earnings per ADS of $0.36 (excl. stock comp expense), topping consensus estimates of $0.31. Revenues rose 74% year-over-year to $282.3 million, just above consensus estimates of $276.7 million.

Baidu sees Q3 revenue between $324.4 million and $333.3 million, vs. consensus estimates of $321.6 million.

Chairman and CEO Robin Li said, "Baidu's record top and bottom line results reflect the healthy growth of our customer base and continued improvements in monetization efficiency...This quarter's strong performance also underscores the vast Internet market opportunities for us and the growing appreciation for search engine marketing in China."

SOURCE: http://www.youtube.com/user/TradeTheTrend

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