Here’s some bullet points on Baidu’s (BIDU) quarter:
- Revenue was $371 million, up from $185 million a year ago. My handy-dandy calculator says that’s 101% revenue growth.
- Here’s revenue in earlier quarters:
2008 Q4 $132mil
2009 Q1 $119 mil
2009 Q2 $161 mil
2009 Q3 $187 mil
2009 Q4 $185 mil
2010 Q1 $189 mil
2010 Q2 $262 mil
2010 Q3 $337 mil
2010 Q4 $371 mil (just announced)
Since the second quarter of 2010, Baidu has been in a zone. Next quarter the company expects revenue of maybe $360-370 mil. Last quarter BIDU beat revenue estimates by around $10 mil. - Stock broke out at the open to an all-time high. This market is on the edge of correcting. BIDU didn’t care — it went up anyway.
- Profits last quarter were $0.50 vs. $0.18 a year ago. That’s 177% growth on “only” 101% revenue growth. So profits grow faster than revenues? Nice business model. Think like this: Make a dollar, keep 20 cents. Make an additional dollar, keep 25 cents.
- BIDU didn’t beat by much. I had the company earning $0.45 and it made $0.50. Right now First Call has BIDU making $2.39 in 2011. I’m guesstimating it will make $3.00 this year.
- BIDU is selling for $116 now. That’s 39 times earnings.
Disclosure: At the time of publication clients of DavidSharek.com owned shares of BIDU.
