Baidu Inc (ADR) (BIDU) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $1.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.03. The company posted revenue of $2454.00 million in the period, compared to analysts expectations of $2431.67 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.
Many Wall Street Analysts have commented on Baidu Inc (ADR). Baidu Inc (ADR) was Upgraded by Brean Capital to ” Buy” on Apr 29, 2016.
Baidu Inc (ADR) closed down -0.3 points or -0.16% at $187.95 with 22,56,995 shares getting traded on Wednesday. Post opening the session at $187.52, the shares hit an intraday low of $184.44 and an intraday high of $189.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Baidu Inc. (Baidu) is a Chinese-language Internet search provider (ISP). Baidu serves three types of online participants which include users customers and Baidu Union Members. The Company offers a Chinese-language search platform on its Website Baidu.com. It provides Chinese-language Internet search services to enable users to find relevant information online including Web pages news images documents and multimedia files through links provided on its Websites. It designs and delivers its online marketing services primarily on its Baidu.com Website to its online marketing customers. As of December 31 2014 the Company had approximately 813000 active online marketing customers. Its online marketing customers consist of small and medium enterprises (SMEs) throughout China domestic companies and Chinese divisions or subsidiaries of multinational companies.