Baidu.com Inc. (BIDU) Profit Doubles
Leading Chinese search engine Baidu.com Inc. said Thursday its second-quarter profit and revenue more than doubled despite search giant Google Inc.'s growing presence in China.
Baidu's shares jumped nearly 20 percent in U.S. after-hours electronic trading on the news.
Baidu earned 141.9 million yuan ($18.8 million), up from 58.5 million yuan in the year-earlier period, the company said. Earnings per share totaled 4.09 yuan (54 cents), up from 1.69 yuan a year earlier.
Revenue jumped to 401.3 million yuan ($52.7 million) from 189.1 million yuan a year ago.
The results easily surpassed Wall Street expectations. Analysts polled by Thomson Financial expected earnings of 43 U.S. cents per share on revenue of $49.3 million.
Baidu's shares jumped nearly 20 percent in U.S. after-hours electronic trading on the news.
Baidu earned 141.9 million yuan ($18.8 million), up from 58.5 million yuan in the year-earlier period, the company said. Earnings per share totaled 4.09 yuan (54 cents), up from 1.69 yuan a year earlier.
Revenue jumped to 401.3 million yuan ($52.7 million) from 189.1 million yuan a year ago.
The results easily surpassed Wall Street expectations. Analysts polled by Thomson Financial expected earnings of 43 U.S. cents per share on revenue of $49.3 million.
Labels: Baidu.com Inc., BIDU
posted by Stock Administrator @ 10:01 PM
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