Baidu up 10% on Strong Q2 Earnings

Baidu.com

is trading higher on the session following its Q2 earnigs announcement yesterday. The company reported an EPS of $1.26 vs $1.12 estimates and revenues of $858.8 million vs $850.78 million estimates. Baidu also guided Q3 revenue of $983 million-1 billion vs $996.6 million estimates. Robin Li, chairman and chief executive officer of Baidu said, "We are pleased to announce strong results for the second quarter despite macro headwinds and challenging comparisons with the same period last year. Our efforts to expand our customer base continue to make solid progress." Baidu is currently trading at $117.48, a gain of $10.38 or 9.69 percent.