Baidu (BIDU) Issues Strong Q4 Numbers, Q1 Outlook; Customers Increased 12.7%
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Shares of Baidu.com (Nasdaq: BIDU) are largely unchanged following its fourth-quarter report, issued after the market closed Thursday. After closing at $141.83, the stock last traded at $142.10.
Revenue in the quarter moved 87.4 percent higher from $379.3 million in the same period last year to $710.9 million.
Net income moved to $326.3 million, or 93 cents per ADS. EPS on an adjusted basis was 95 cents, up 83 percent from EPS of 52 cents reported for the fourth quarter of 2010.
The Street was looking for revs of $700.8 million and earnings of 91 cents per share.
Traffic acquisition cost (TAC) was $56.2 million, or 7.9 percent of total revs, down from 8.1 percent last year.
Baidu reported having roughly 311,000 active online marketing customers in the quarter, up 12.7 percent.
"Over the course of 2011, we made great progress on the Baidu Open Data and Open Application platforms, executed effectively on our landing page strategy, and rolled out several new initiatives, including our personalized homepage and the Baidu Yi mobile platform," commented CEO Robin Li.
Looking to the first quarter of 2012, Baidu sees revs of $666.5 million to $688.0 million. The Street is modeling revs of $678.5 million.
Revenue in the quarter moved 87.4 percent higher from $379.3 million in the same period last year to $710.9 million.
Net income moved to $326.3 million, or 93 cents per ADS. EPS on an adjusted basis was 95 cents, up 83 percent from EPS of 52 cents reported for the fourth quarter of 2010.
The Street was looking for revs of $700.8 million and earnings of 91 cents per share.
Traffic acquisition cost (TAC) was $56.2 million, or 7.9 percent of total revs, down from 8.1 percent last year.
Baidu reported having roughly 311,000 active online marketing customers in the quarter, up 12.7 percent.
"Over the course of 2011, we made great progress on the Baidu Open Data and Open Application platforms, executed effectively on our landing page strategy, and rolled out several new initiatives, including our personalized homepage and the Baidu Yi mobile platform," commented CEO Robin Li.
Looking to the first quarter of 2012, Baidu sees revs of $666.5 million to $688.0 million. The Street is modeling revs of $678.5 million.
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