BIDU Misses Ests – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/17554/BIDU+Misses+Ests+-+Zacks+Tale+of+the+TapePosted on Thursday, February 19th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Baidu Inc.’s (BIDU) fourth-quarter results missed the consensus despite posting a 31% rise in profit.
Baidu’s earnings for the latest quarter came at $1.22 per share, which excluded special items. Revenue surged 58% year-over-year at $132.2 million but slipped by about 2% from the previous quarter’s levels.
The Chinese Internet search giant projects sales growth at a record-slow pace of 36%, citing the economic meltdown. Baidu forecasts first-quarter revenue in the range of $114 million and $117 million.
The company is a Zacks #3 Rank (”Hold”).
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