Baidu Growing Again Isn't Enough
Shares of Baidu (NASDAQ: BIDU) were initially weaker after the company posted its third-quarter results shortly after Thursday's market close. The leading Chinese search engine landed near the high end of its earlier top-line guidance, and earnings grew even faster than Baidu's top-line surge. However, an uninspiring forecast for the current quarter tripped up the stock that had hit an all-time high just last week.
Revenue is clocking in at $3.53 billion, 29% ahead of where the dot-com darling was a year earlier. Baidu was targeting 27% to 30% top-line growth. Net income soared 156% to $3.65 a share, or up 163% to $3.89 a share on an adjusted basis. The bottom-line performance was padded by a chunky investment gain realized on the disposal of its Baidu Deliveries restaurant delivery platform. However, operating income still managed to grow at a hearty 69% clip. Baidu doesn't offer up bottom-line guidance.
Image source: Baidu.
Source: Fool.com
Baidu Inc. A ADR Stock
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