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Baidu, Inc. (BIDU)

Q4 2009 Earnings Call Transcript

February 9, 2010 8:00 pm ET

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After reporting a 4th quarter earnings increase of 48%, the Chinese Internet company Baidu, Inc. (Nasdaq: BIDU) surprised analysts with its forecast for 1st quarter revenue.

Baidu, Inc. said it expects revenue of $176 million to $181 million in the 1st quarter.

A poll of analysts by Thomson Reuters revealed a consensus forecast of $170 million.

Baidu rolled out a new advertising system called Phoenix Nest, which Baidu said is already exceeding expectations.

"The year ended on a positive note as Phoenix Nest's better-than-anticipated performance helped us to exceed expectations for the fourth quarter," said Chairman and Chief Executive Robin Li.

Baidu has already benefited from the possible exit of its biggest rival, Google Inc. (Nasdaq: GOOG), from the Chinese market.

Baidu may benefit further from Google's conflict with the Chinese government, as Baidu is now the default search engine for all Motorola Inc. (NYSE: MOT) phones in China that use Google's Android operating system.

Among the companies whose shares are expected to see active trade in Wednesday’s session are Allstate, Activision Blizzard, and Prudential.

Baidu.com (NASDAQ: BIDU) reported strong earnings after the closing bell today and the stock has climbed 8.85% in the after hours trading session. The shares are currently changing hands for $473.65 after closing the regular session at $435.01.

Baidu (BIDU) posted net income of $62.7 million, or $1.80 per share, beating analysts' estimates of $1.68. Total revenue came in at $184.7 million versus estimates of $180.02 million.

Baidu (BIDU) has a large short interest, so this explosive rally in the after hours makes a lot of sense after the company reported a strong quarter. Much of this move may not be a result of new bullish buyers coming in and picking up shares, but rather short sellers throwing in the towel and covering their positions.

Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=5325446 for the full story.

This morning, the market was encouraged by a possible rescue plan for Greece’s debt crisis.  In addition, CAT received an upgrade from Morgan Stanley.  Commodity sectors jumped and pushed the Dow back above the 10,000 mark.  CAT finished the day up +5.42%.  Both BUCY and JOYG also benefitted, gaining +4.48% and +2.74%, respectively.  AGU reported [...]

BloggingStocks: Shares of Baidu (BIDU) are pointed sharply higher in after-hours trading, with investors cheering the company's fourth-quarter earnings report. The Internet-search issue swung to a profit of $62.7 million, or $1.80 per American depositary share, ... Read more

By this time tomorrow, we'll know if Baidu (BIDU) – the "Chinese Google" - beat the Street. More importantly, we'll know what the market thinks about it. BIDU reports quarterly earnings after the close today, and most analysts expect the company to beat Wall Street's $1.68-per-share estimate. They also have high hopes BIDU will raise guidance for the coming quarter.[More...]

New York, Feb 9th (TradersHuddle.com) - Shares of Baidu, Inc. (NASDAQ:BIDU) are trading very close to calculated resistance at $450.99 with the current price action closing at just $443.23 placing the stock near levels that make it difficult to buy.

Baidu, Inc. (NASDAQ:BIDU) provides Chinese language Internet search services primarily in . Read More --

Surprise! Google (GOOG)  continues to take market share from its competitors.  Baidu (BIDU) may see a change and uptick in the next monthly reading as there is talk of Google pulling out of the China market. But that remains to be seen. Where Google remains they will dominate. Source: hitslink.com ___ Disclosure: Horowitz & Company clients may hold positions [...] Related posts:

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