The shares of Baidu.com, Inc. (ADR)(NASDAQ:BIDU) are
performing quite well in afterhours session rebounded over 7% to $115 after the
China’s search engine giant posted better than estimate second quarter earnings
and lifted its full year guidance.
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on BIDU Here
The company said that it earned RMB2.770 billion ($436.0
million) or $1.24 a share and adjusted EPS stood at $1.26, ahead of analysts forecast
by 14 cents. Revenue came in at RMB5.456 billion ($858.8 million), up 59.8%
year over year. Analysts were targeting the company to report $850.78 million. Online
marketing revenues for the second quarter of 2012 were RMB5.452 billion ($858.1
million), representing a 59.7% increase from the corresponding period in 2011.
For the current quarter, Baidu currently expects to generate
total revenues in an amount ranging from RMB6.245 billion ($983.0 million) to
RMB6.410 billion ($1.009 billion) for the third quarter of 2012, representing a
49.6% to 53.5% year-over-year increase. This forecast reflects Baidu's current
and preliminary view, which is subject to change.
Can BIDU rebound
after solid earnings, Find Out Here
Share of BIDU had been under severe selling pressure over
the past three months on slowing growth rate in China. However, the company has
shown strong quarterly numbers and upped earnings guidance as well.
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