Baidu Beats Street, but Guidance Falls Short

Baidu (BIDU), the Chinese Internet search company, reported fourth quarter revenue of $78.3 million, with EPS of 87 cents GAAP, 92 cents non-GAAP. That beat the Street consensus of $77.1 million and 71 cents.

But for the first quarter, Baidu sees revenue of $73.1 million to $75.1 million, below the Street consensus of $77 million.

In after hours trading, Baidu shares are up $6.91, or 2.7%, at $268. The stock rose $15.66 in the regular session.

Comments

[jerry parker:]

Dick Wei of JPM has been poo-pooing BIDU for the past week, and the hedge fund world has been talking about about the sequentially down revenues guidance for the past month. This is NOT new news for most smart people following the stock...esp since stock has come down from $400+ to $260. Not saying BIDU is worth a particular price, but there's too many dumb shorts out there who are the "fool" at the poker table and don't realize it, yet.

2008 Feb 13 05:15 PM

[VSD:]

95 new investors (instis) got in YTD. This kind of a change in ownership requires some incentives. That is why stock was down.

2008 Feb 13 06:23 PM

[Ajoy:]

The guidance, by itself, isn't an issue - the snowstorm is a
once-in-a-generation thing. Earnings for Q4 were stellar.
On the CC, the VP seemed fairly confident a US recession
wouldn't impact the Internet search market since it is still
in its infancy.

2008 Feb 14 12:38 AM