Wall Street is expecting higher profit for Baidu.com (BIDU) when the company reports its third quarter results on Thursday, October 27, 2011. The consensus estimate is calling for profit of 83 cents a share, a rise from 45 cents per share a year ago.
What to Expect:
The consensus estimate has fallen over the past month, from 84 cents, but it’s still up from the consensus estimate of 75 cents three months ago. For the fiscal year, analysts are expecting earnings of $2.89 per share.
Revenue is projected to be 83.5% above the year-earlier total of $337.1 million at $618.6 million for the quarter. Revenue is projected to come in at $2.16 billion for the year.
Analyst Ratings:
The majority of analysts (84.2%) rate Baidu.com, Inc as a buy. This compares favorably to the analyst ratings of its nearest 10 competitors, which average 67.4% buys. Analyst sentiment has been waning recently, as the number of buy ratings has dropped slightly over the past three months.
Trends to Watch For:
The company has seen double-digit year-over-year revenue growth for the past four quarters. Over that period, revenue has grown by an average of more than threefold. The biggest boost came in the fourth quarter of the last fiscal year when revenue increased more than sixfold year over year.
The company’s profit has been on the rise for three quarters in a row. In the second quarter, net income rose more than twofold while it rose more than twofold in the first quarter and 753.8% in the fourth quarter of the last fiscal year.
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Competitors:
Baidu.com is a Chinese-language Internet search provider. Baidu.com, Inc’s main competitors in the information technology sector are Google (GOOG), Sohu.com (SOHU), Sina (SINA), Yahoo (YHOO), Netease.com (NTES), InfoSpace (INSP), Microsoft (MSFT), Youku.com (YOKU), and AOL (AOL).
Recent Price Movement: Since July 27, 2011, the stock price has dipped 18.1% to $132.02 from $161.24.
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