Following were the two notable earnings late Monday:-
Baidu.com, Inc. (ADR)(NASDAQ:BIDU) shares are popping up in the pre-open session as the company late Monday posted higher than projected net earnings and revenue for the second quarter. Moreover, investors were impressed after the company upped its guidance for the third quarter.
China’s search engine giant posted net income of RMB2.770 billion ($436.0 million) or $1.24 a share, while adjusted earnings jumped to $1.26 a share, topping analysts’ forecast by 14 cents. Revenue surged about 60% to RMB5.456 billion ($858.8 million), compared to analysts expectations of $850.78 million. 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.
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Shares of the company are up 6.44% to $114 in the pre-market session, rebounding after slumping over 30% in the past three months and reached a new 52-week low below $100 earlier this month.
On the other hand, shares of Volterra Semiconductor Corporation(NASDAQ:VLTR) slumped as the company reported lower than estimated second quarter earnings.
The company posted net income of $6.01 million or $0.22 per share, up from a year ago profit of $5.34 million or $0.20 per share. On an adjusted basis, the company would have earned $8.50 million or $0.32 per share, missing analysts’ target by 3 cents. The company generated $43.57 million in revenue, up 4% year over year, but missed analysts’ forecast of $44.29 million.
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Gross margin during the latest quarter was improved by 1.30% to 58%, from 56.70% a year ago.
Volterra also said that its Board recently approved an expansion of its previously authorized share repurchase plan by an additional $15 million.
Shares of VLTR lost about 13% in after hours on Monday.