Baidu, Inc.

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  • Dec. 4, 2012, 11:25 AM
    Some stats from Mary Meeker's 2012 Internet trends report: 1) China now has 538M Internet users (+10% Y/Y), though penetration is still only at 40%. It also has 270M smartphone subs; penetration (as a % of mobile subs) stands at 24%. 2) Globally, there are 1B smartphone subs, compared with 5B mobile subs. 3) Mobile data now makes up 13% of total Internet traffic. 3) Total mobile app/ad revenue is expected to hit $19B in 2013, up from $15B in 2012. 4) About 1.5B Wi-Fi devices and 2B Bluetooth devices will ship in 2012.
    | Dec. 4, 2012, 11:25 AM
  • Dec. 4, 2012, 10:24 AM
    Some marquee Chinese Internet stocks are slumping, potentially on worries about the SEC's suits against the Chinese arms of the Big-4 U.S. accounting firms. Baidu (BIDU -5.1%), Sina (SINA -6.6%), Youku Tudou (YOKU -4.2%), Sohu (SOHU -3%), Perfect World (PWRD -1.2%), and NetEase (NTES -4%) are among the losers. Renren (RENN +2.5%) is higher following yesterday afternoon's Deutsche upgrade.
    | Dec. 4, 2012, 10:24 AM | 2 Comments
  • Dec. 4, 2012, 2:22 AM
    Yesterday's SEC suit against the Chinese units of the Big Four accounting firms could mark the beginning of the end for U.S.-listed China shares, even giants like Sina (SINA) and Baidu (BIDU). The accounting firms face a Catch-22: The U.S. requires them to share information from their audits in foreign countries, while China bars them from doing so.
    | Dec. 4, 2012, 2:22 AM | 4 Comments
  • Nov. 29, 2012, 2:57 PM

    Qihoo (QIHU +5.1%) is posting a decent gain after launching a music search engine to complement its Web search engine, thereby bolstering its efforts to compete with Baidu (BIDU). There's a good chance Qihoo's product will end up displacing the music engine provided by Sohu's (SOHU) Sogou unit for Qihoo's portal. Baidu currently offers China's most popular music engine - it recently drove a rival offering from Google out of the market. (more on Qihoo-Baidu)

    | Nov. 29, 2012, 2:57 PM
  • Nov. 21, 2012, 10:08 AM

    Baidu (BIDU) has priced a $1.5B debt offering - one half consists of 2.25% notes due 2017, and the other half 3.5% notes due 2022. Baidu, which had $366M in long-term debt at the end of Q3, says it will use the proceeds to retire existing debt and for "general corporate purposes." One of those purposes might be Baidu's CNY10B ($1.6B) cloud services facility.

    | Nov. 21, 2012, 10:08 AM
  • Nov. 20, 2012, 1:16 PM

    Chinese mobile browser developer UCWeb, previously the subject of Baidu (BIDU +1.7%) acquisition rumors, now claims 100M Android users. UCWeb's leading share on what's now easily China's most popular smartphone platform represents a challenge to Baidu's mobile monetization efforts. While UCWeb offers Baidu search as an option, it also supports other search engine and collects traffic-acquisition revenue. (previous) (Baidu mobile browser)

    | Nov. 20, 2012, 1:16 PM
  • Nov. 19, 2012, 2:50 PM

    Baidu (BIDU -0.1%) is offering 30GB of free cloud storage to buyers of Lenovo and Huawei Android phones featuring two of Qualcomm's (QCOM) latest Snapdragon processors. The Chinese search giant is hoping its cloud offerings, supported by a $1.6B investment plan, will help it stand out in a very competitive mobile search market. Qualcomm, depending more than ever on emerging markets, has made growing its Chinese baseband chip share a priority.

    | Nov. 19, 2012, 2:50 PM
  • Nov. 14, 2012, 11:28 AM
    Baidu (BIDU -5.1%) has tumbled to new 52-week lows today, as worries persist about Qihoo's search engine, mobile search share and monetization, and China's growth slowdown - shares have now tread water over the last 2 years, during which time Baidu's multiples have fallen sharply. SA's Efficient Alpha recently observed many of Baidu's multiples and financial metrics now compare favorably with Google's. (yesterday)
    | Nov. 14, 2012, 11:28 AM | 1 Comment
  • Nov. 13, 2012, 11:11 AM
    Baidu (BIDU -3.1%) is closing in on its 52-week low after a Taiwanese paper reports CEO Robin Li is experiencing "a growing sense of crisis" over the company's recent challenges (search competition from Qihoo and a shift in traffic towards mobile devices). Also, a Shanghai paper claims Baidu's recent launch of an Android web browser (crucial to Baidu's efforts to gain mobile search share) hasn't met expectations - might that drive Baidu to acquire market leader UCWeb?
    | Nov. 13, 2012, 11:11 AM
  • Nov. 7, 2012, 7:11 PM
    In spite of Qihoo's (QIHU) much-discussed arrival on the Chinese search scene, Baidu (BIDU) still had 73% of the market in October, according to research firm CNZZ. Qihoo's share is pegged at 9.6%, Sohu's (SOHU) Sogou at 7.8%, and Google's (GOOG) a mere 4.7%. Qihoo, which may have been partly responsible for Baidu's soft Q4 guidance, has said it's hoping to eventually take 15%-20% of the market. (more)
    | Nov. 7, 2012, 7:11 PM
  • Nov. 1, 2012, 12:46 PM

    Qihoo (QIHU +5.8%) rallies after CEO Zhou Hongyi tells Chinese media his company hopes to take 15%-20% of China's search market - that's well above the 9.2% share Qihoo, which launched its search engine in August, was estimated to have a month ago. Hongyi adds Qihoo has hired ex-Google employees to work on search, and wants to partner with vertical search providers. He also criticizes Baidu (BIDU), which just offered soft guidance, for caring more about ad monetization than the user experience. (more)

    | Nov. 1, 2012, 12:46 PM
  • Oct. 31, 2012, 1:42 PM
    More on Citi's two-notch downgrade of Baidu (BIDU -5.7%): analyst Ravi Sarathy thinks Baidu's P/E, which has already compressed plenty this year, will eventually be in-line with Google's, due to the impact of soft mobile search monetization. He also sees Baidu's margins contracting due to ramping expenses, and notes Q3's Y/Y revenue growth rate was the lowest seen by the company since Q1 2010. (more on BIDU) (Q3 transcript)
    | Oct. 31, 2012, 1:42 PM | 4 Comments
  • Oct. 31, 2012, 10:22 AM

    Baidu (BIDU -4.1%) falls in response to the Q4 guidance and earnings call commentary accompanying its Q3 beat. The fact Citi is downgrading shares all the way to Sell from Buy also isn't helping - the firm's target has been cut in half to $95. Piper's Gene Munster is taking comfort in better-than-expected customer ads, and argues Qihoo (QIHU +0.6%), the subject of much recent angst, isn't a major long-term threat. Also lower: SINA -1.8%. SOHU -1.4%. RENN -2.6%. (transcript)

    | Oct. 31, 2012, 10:22 AM
  • Oct. 31, 2012, 9:10 AM
    Premarket gainers: PVH +18%. UBS +14%. ANAD +12%. GNRC +13%. VRNG +8%. TTWO +7%. NOK +6%. DB +5%.
    Losers: WU -17%. NBG -16%. RVBD -11%. WPRT -11%. BIDU -5%.
    | Oct. 31, 2012, 9:10 AM | 1 Comment
  • Oct. 30, 2012, 1:18 PM

    Baidu's (BIDU) mobile search traffic grew 25% Q/Q and 110% Y/Y in Q3, the company disclosed in its earnings call. However, it admitted PC traffic growth is "certainly not as exciting." Much like Google, Baidu sees higher ad prices for PC ads than mobile ads - the company says it's trying to narrow this gap by "enhancing efficiencies," educating ad buyers about mobile, and developing mobile-ready sites. Also, Baidu partly attributed a slowdown in ARPU growth to its signing up of SMEs with less spending power as customers.

    | Oct. 30, 2012, 1:18 PM
  • Oct. 29, 2012, 4:56 PM

    More on Baidu's Q3: Q4 guidance is for revenue of $979M-$1.01B, below a $1.03B consensus. That should heighten concerns about the impact of mobile activity and Qihoo's (QIHU) search engine, though some of this may be priced in. Online ad customers +11% Q/Q and +28% Y/Y to 390K. Revenue/customer +3% Q/Q and +17% Y/Y to $2,546. Traffic acquisition costs were 8.6% of revenue, up from Q2's 8.3%. R&D expenses grew faster than revenue, SG&A grew slower. CC at 8PM ET (webcast). (PR)

    | Oct. 29, 2012, 4:56 PM
Company Description
Baidu Inc is a Chinese language Internet search provider. The Company offers a Chinese-language search platform on its website