Why Baidu Jumped Nearly 26% in July
Baidu's (NASDAQ: BIDU) stock price jumped 25.7% in July, according to data provided by S&P Global Market Intelligence, and more than half of that gain took place after company reported solid revenue growth and skyrocketing earnings for its second quarter.
Baidu increased its revenue by more than 14% in Q2, to $3.08 billion. Net income, however, increased by a whopping 98.4% to $822 million, and adjusted earnings per share (EPS) jumped by just as much to $2.36. That far exceeded analysts' consensus earnings estimate of just $1.41 EPS for the quarter. Those results sent sentiment about the Chinese search giant skyrocketing, and investors pushed Baidu's share price up 14% in the days that followed the July 27 earnings report.
Image source: Baidu.
Source: Fool.com
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