Baidu Stock Has a Lot to Prove on Thursday
We should be back to seeing Baidu (NASDAQ: BIDU) at full strength on Thursday when it reports its financial results for the third quarter. Investors are holding out for a period of strong growth. Back in July China's top search engine was targeting $3.412 billion to $3.503 billion in revenue for the quarter, 27% to 30% ahead of the prior year's showing. Back out Baidu's no longer relevant mobile gaming business and we're looking at an organic top-line spurt of 29% to 33%.
Baidu doesn't provide bottom-line guidance, but analysts are holding out for adjusted earnings soaring 57% to $2.03 a share. That may seem like a heavy lift, but Baidu's staying a big step ahead of the prognosticators. It has beaten Wall Street profit targets by a double-digit percentage margin every single quarter over the past year.
Image source: Baidu.com.
Source: Fool.com
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