China Internet Stocks Higher Following Strong Q2 Results from Segment Leaders (SOHU) (BIDU) (SINA)

August 6, 2012 8:52 AM EDT
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Chinese Internet stocks are popping higher Monday morning, riding a wave of positive earnings reports from earlier.

The biggest winner so far is (Nasdaq: CYOU), which beat Q2 views by 24 cents and issued strong Q3 sales guidance. The company also announced possible filing of IPO documents for its subsidiary.

Tudou Holdings (Nasdaq: TUDO) posted an 18 cents per share narrower loss than expected in Q2.

Sohu (Nasdaq: SOHU) edged out Q2 expectations, though Q3 EPS guidance was a littlelight.

Results follow strong numbers from Baidu (Nasdaq: BIDU) at the end of July, showing a 12 cents per ADS beat over views.

SINA Corp. (Nasdaq: SINA) and NetEase (Nasdaq: NTES) weill release quarterly results next week.

Chanyou is up over 20 percent in early action, while Tudou is flat and Sohu is up about 6 percent.

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