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Feb. 11, 2015, 5:36 PM
Feb. 11, 2015, 5:12 PM
- In addition to missing Q4 revenue estimates (while slightly beating on EPS), Baidu (NASDAQ:BIDU) is guiding for Q1 revenue of RMB12.645B-RMB13.065B ($2.038B-$2.106B), below an RMB13.62B consensus. Guidance reflects "the combined impact of both the late timing of Chinese New Year this year and mobile's growing traffic contribution, which monetizes at a rate lower than that of PC."
- Mobile rose to 42% of revenue in Q4 from 36% in Q3. Online ad customers rose 16% Y/Y but just 1.4% Q/Q to 523K; revenue per online ad customer rose 26.3% Y/Y but just 1.9% Q/Q to $4,255.
- Traffic acquisition costs rose to 13.4% of revenue from 12.9% in Q3 and 12.3% a year ago (mobile, hao123 portal promotions, and contextual ads were responsible). SG&A spend soared 89.2% Y/Y to $568M, and R&D spend 69% to $344.2M.
- BIDU -8.1% AH to $197.26.
- Q4 results, PR
Feb. 11, 2015, 4:36 PM
- Baidu (NASDAQ:BIDU): Q4 EPS of RMB9.97 ($1.61) beats by RMB0.02.
- Revenue of RMB14.05B ($2.264B, +47.6% Y/Y) misses by RMB70M.
- Shares -7.86%.
Feb. 10, 2015, 5:35 PM
- ABCO, ACHC, AEM, AMAT, AMBR, AUY, BIDU, CAKE, CJES, CPA, CRAY, CSCO, CSOD, CTL, CVA, CXW, CYS, DDR, DIOD, EFC, EFX, EXL, FET, FEYE, FORR, GAS, HIVE, HNI, HOS, IO, ITRI, LPSN, MET, NSIT, NTAP, NTWK, NU, NVDA, OII, PNRA, PPC, QDEL, REG, SCSS, SKX, SLF, SPRT, STMP, SWM, TAL, TCX, TRIP, TSLA, TSO, TTGT, WFM, ZEN, ZU
Feb. 4, 2015, 1:22 PM
- China's Leiphone reports Baidu (BIDU +0.3%) is investing over $100M in Fancy Maker, a new Lenovo (OTCPK:LNVGY) brand (first announced in October) created to take on Xiaomi and Apple in the Chinese smartphone market.
- Like Xiaomi, Fancy Maker (begins operations in April) will rely on online sales and viral marketing. As Marbridge Consulting observes, Fancy Maker will likely agree to pre-install Baidu's mobile apps/services as part of a deal; Qihoo's recent $409M investment in a JV with Chinese Android OEM Coolpad features such terms.
- IDC estimates Xiaomi had a 5.3% Q3 global smartphone unit share (211% Y/Y unit growth), and Lenovo a 5.2% share (38% unit growth). With Motorola Mobility on the books, Lenovo estimates it had a 6.6% share in calendar Q4, with ~60% of its phone sales coming outside of China.
- Baidu's Q4 report arrives on Feb. 11.
Jan. 23, 2015, 12:15 PM
- Baidu's (BIDU +1.1%) Q4 report will arrive after the close on Wednesday, Feb. 11. CC at 8PM ET.
- Consensus is for revenue of RMB14.14B ($2.27B, +48.5% Y/Y) and EPS of RMB9.89 ($1.59). Shares +3% since the Chinese search giant provided mixed Q3 results, slightly soft guidance, and strong mobile metrics on Oct. 29.
- Deutsche recently offered positive pre-earnings commentary, and Brean did the same a few days later.
Jan. 21, 2015, 2:55 PM
- Alibaba (BABA +3.5%) and Baidu (BIDU +3.6%) have posted big gains in U.S. trading after the Shanghai Composite rose 4.7% overnight (its biggest gain in 5 years). China's other Internet giant, Tencent (OTCPK:TCEHY), hasn't been left out of the fun: Its shares rose 3.8% overnight in Hong Kong, leaving the company sporting a $155B market cap.
- Baidu recently received positive pre-earnings commentary from Deutsche, which argued mobile monetization is improving rapidly. The firm observed Baidu hiked the minimum bid price for mobile keywords as a % of PC keyword prices to 30% from 10%, and suggested Baidu's alliance with fast-growing Android OEM Xiaomi could provide a boost. Mobile accounted for 36% of Baidu's Q3 revenue, and a majority of its traffic.
- Alibaba, which also rallied yesterday, is eight days away from posting its FQ3 report. The consensus is for 47% Y/Y revenue growth, but only 24% EBITDA growth, as investments in new businesses and mobile marketing pressure margins.
Dec. 17, 2014, 4:54 AM
- Confirming a report from last week, Baidu (NASDAQ:BIDU) says it has bought a stake in Uber.
- The pair said they would collaborate to expand Uber's presence in China, where it lags far behind Kuaidi Dache and Didi Dache, two domestic car-hailing apps backed by Baidu's rivals Alibaba and Tencent.
- The companies didn't disclose how big a stake Baidu was taking, although China National Radio reported on Friday that it may be worth as much as $600M.
- Previously: Report: Baidu buys stake in Uber (Dec. 12 2014)
Dec. 15, 2014, 5:38 PM
- Nokia's (NYSE:NOK) Here unit will power Baidu's (NASDAQ:BIDU) PC and mobile mapping services outside of China. The solution will cater to Chinese tourists traveling abroad.
- With Baidu's search services squaring off against Google's in non-Chinese markets, it might have been more comfortable partnering with a third party. The Baidu deal comes shortly after Nokia made Here's Android app available to all; it was previously offered only to Samsung users. An iOS app will launch in 2015.
- Separately, Nokia has announced Bernard Najm, an 18-year company vet, is its new Middle East/Africa chief. Najm succeeds Igor Leprince, who was recently named the company's Global Services chief.
Dec. 12, 2014, 4:54 AM
- Despite coming under fire across the globe this week, Baidu (NASDAQ:BIDU) is buying a minority stake in Uber, giving the ride-sharing giant a boost as it expands in China.
- The investment may be worth as much as $600M, Bloomberg reports quoting China National Radio.
- Earlier this month, Uber raised $1.2B in a new round of funding that valued the company at $40B.
Dec. 10, 2014, 1:35 PM
- After announcing the creation of the Emerging Markets ex-State-Owned Enterprises Index yesterday, WisdomTree rolled out the the WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (NYSEARCA:XSOE) this morning.
- According to WisdomTree's blog post for the launch, XSOE "provides investors with a way to capitalize on the opportunities of emerging markets without the politics involved with state-owned enterprises."
- Top holdings in the fund include Tencent Holdings (OTCPK:TCEHY), Samsung Electronics (OTC:SSNHY) and Baidu (NASDAQ:BIDU); two companies out of China and one from South Korea.
- Other emerging market ETFs: EEM, VWO, EDC, EDZ, SCHE, IEMG, EEV, ADRE, EET, EUM, GMM, EEME, DBEM, EMCR, FEM, EWEM, EMLB, HEEM, EMSA, EMFT
Dec. 1, 2014, 10:38 AM
- Chinese Internet and telecom names are among the biggest tech decliners as the Nasdaq registers a 0.9% drop. A soft November PMI print isn't helping.
- Giants Alibaba (BABA -4.3%) and Baidu (BIDU -2.8%) are among the casualties. As is Qunar (QUNR -5.8%), which reports after the bell.
- Other Internet decliners: BITA -12%. QIHU -4.4%. CTRP -4.3%. SFUN -7.2%. LEJU -7.5%. RENN -6.3%. SINA -3.8%. WB -3%. YY -3.9%. VIPS -3.8%. SOHU -3.5%. MOBI -4.3%. CMGE -8.6%.
- Telecom decliners: CHL -3.6%. CHU -3.9%. CHA -4%.
- ETFs: KWEB, CQQQ, QQQC
Nov. 19, 2014, 10:49 AM
- Xiaomi and Shunwei Capital (a fund set up by Xiaomi founder Lei Jun) are investing $300M in Baidu's (BIDU -0.9%) iQiyi video site.
- Bloomberg reports Xiaomi's investment is good for a 10%-15% stake, and that Baidu will be investing another $100M in iQiyi, leaving it with an 80% stake. A prior report stated Baidu is also investing $300M.
- The companies plan to jointly develop content and (unspecified) tech products, with a focus on mobile. iQiyi CEO Gong Yu: "Just like Xiaomi, iQiyi has a large number of young users. We will produce original content including animation, TV drama and variety shows for Xiaomi’s users.”
- Last week, Xiaomi announced an investment in iQiyi rival Youku. Shortly before that, iQiyi announced it would buy distribution rights to 1K+ U.S. movies in 2015.
Nov. 12, 2014, 8:04 AM
- Xiaomi (now China's biggest smartphone vendor and #3 worldwide) and Baidu (NASDAQ:BIDU) are each investing $300M in Baidu's iQiyi video site, China Business Daily reports.
- Meanwhile, Xiaomi has announced it's taking a stake in major iQiyi rival Youku (NYSE:YOKU) by acquiring shares on the open market. Xiaomi will also license content from Youku, and the companies will "jointly invest in the production and distribution of online video content and movies."
- The news comes a week after Xiaomi announced it's investing $1B to expand its Web video content library. The company claims 85M active users for its MIUI Android UI (pre-installed on its phones). Baidu/iQyi recently announced it would have distribution rights to 1K+ U.S. movies next year.
- Baidu, Youku, SOHU, and Tencent have been battling fiercely in a Chinese Web video market that features no dominant YouTube-like player for user-generated/short-form content, nor any dominant Netflix-like player for TV shows and movies. The market has seen huge mobile video growth: Mobile made up over 60% of Youku's Q2 video views.
- YOKU +3.6% premarket.
Nov. 10, 2014, 11:15 AM
- Baidu's (BIDU +2.5%) Dianxin mobile app unit is partnering with Chinese online retailer LightInTheBox (LITB +10.6%) to globally promote and distribute LightInTheBox's apps.
- Dianxin's apps, which include Android utility apps such as DU Battery Saver and DU Speed Booster, have been downloaded by 350M Chinese and nearly 200M non-Chinese users.
- LightInTheBox, which is up sharply on the news, receives the lion's share of its revenue from non-Chinese buyers. Baidu has increasingly been butting heads with Alibaba, whose marketplaces handle plenty of sales between Chinese merchant and overseas customers.
Oct. 29, 2014, 5:13 PM
- Baidu's (NASDAQ:BIDU) mobile traffic surpassed its PC traffic in Q3, and generated 36% of revenue. Three months ago, Baidu disclosed mobile was over 30% of Q2 revenue, and that it had 500M+ mobile search active users in June.
- Active online ad customers +5.7% Q/Q and +11.2% Y/Y to 516K. Revenue/customer +7% Q/Q and +35.6% Y/Y to $4,220 (drove much of the top-line growth).
- Traffic acquisition costs rose to 12.9% of revenue from 12.7% in Q2 and 11.7% a year ago. Content costs (video-driven) rose to 3.7% of revenue from 2.5% a year ago, and bandwidth costs fell to 5.6% from 5.8%.
- SG&A spend +95% Y/Y to $439.9M, thanks largely to strong mobile promotional spending. R&D spend +68% to $298.4M.
- Y/Y revenue growth slipped to 52% in Q3 from 58.5% in Q2. Q4 guidance implies 48% growth at the midpoint
- BIDU +0.4% AH. Q3 results, PR.
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