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Baidu Falls Slightly After Q4 Earnings

Baidu Falls Slightly After Q4 Earnings

Chinese-search engine company Baidu (NASDAQ: BIDU) released its fourth-quarter earnings results after the closing bell on Monday. The company reported non-GAAP profits per share of $1.31. This compared to Wall Street consensus earnings estimates of $1.29.

Revenue was $1.017 billion for the quarter, up 41.6 percent from last year. The revenue results were slightly ahead of Wall Street analysts' consensus revenue estimates of $101 billion.

“Baidu once again posted solid growth in 2012 amidst challenging macro conditions,” CEO Robin Li said in a statement. “Similar to the early days of the Internet, this is a time of boundless innovation, creativity and opportunity in our industry. We are at the heart of the Internet in China and we're excited to embrace and lead the next stage of mobile- and cloud-centric Internet growth."

For the first-quarter, Baidu said that it sees revenue between $945.4 million to $975.9 million. This represents year over year growth of between 38.1 percent to 42.6 percent. This compares to current consensus of $967.1 million.

In after hours trading, BIDU was last trading down around 2 percent to $104.88.

Posted-In: Earnings News After-Hours Center Movers Best of Benzinga

 

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