Monday, July 25, 2011

Baidu, Inc. (NASDAQ: BIDU): Q2 2011 Earnings Roundup

Baidu, Inc. (NASDAQ: BIDU) reported late Monday that its second-quarter profit jumped 95% to $252.6 million, or 72 cents per American depositary share. On an adjusted basis, the company earned 74 cents per share in the latest quarter. Revenue surged 78.4 percent to $528.4 million from $282.30 million. Analysts, on average, expected the company to report earnings of 66 cents per share on revenue of $502.08 million.

"Baidu had another excellent quarter, as we benefited from strong traffic growth and improved monetization," said Robin Li, chairman and chief executive officer of Baidu. "We were especially encouraged with the strong spending from large customers, highlighting the increased value they saw from their marketing spend on Baidu."

Looking ahead to the third quarter, Baidu said that it expects revenue in the range of $611.1 to $626.6 million.

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