Jim Cramer Blog

Shares of Chinese search engine Baidu.com Inc. jumped to a new all-time high in trading Thursday after the company said its second-quarter earnings and sales more than doubled.
Baidu shares added $31.64, or 17 percent, to $214.87 in morning trading. Earlier, shares rose as much as $44.21, or 25 percent, to $219.25.

Baidu.com said Wednesday its profit rose to 141.9 million yuan ($18.8 million) from 58.5 million yuan in the year-ago quarter. Earnings per share rose to 4.09 yuan (54 cents) from 1.69 yuan in the same period last year.
The results blew past analysts polled by Thomson Financial, who expected the company to post a profit of 43 cents per share in earnings on sales of $49.3 million.
The company's growth rate comes at a time when search giant Google Inc. is beefing up its presence in China, trying to gain market share from Baidu and its chief competitor, Sina Corp.

Labels: Baidu.com Inc., BIDU, GOOG, Google Inc.