no longer "the GOOGLE of CHINA."
.... it's just Baidu!
China’s most powerful search engine – 64% percent Internet search market share in CHINA – Baidu, the third-largest search engine in the world.
EARNINGS: Wed 21st
Baidu – the word literally means “hundreds of times”
the CHINA-folio = $EDU, $EJ, $CNTF, $CREG, and long $BIDU!! (charts click here)
4 comments:
from GOOG conf call:
about CHINA....
Pichette: We’re basically in the same place as the last time we talked. We have our licenses, but I want to reiterate, revenue from China is not material for us. But having said that, we had “decent” revenues there from Q2.
BOTD take: buy BIDU!
tonight on Mad Money:
New Oriental Education (EDU): "The only Chinese stock I'm recommending is Baidu.com (BIDU). I wouldn't stick around with your stock." -Jimbo
Second Quarter 2010 Highlights
-- Total revenues in the second quarter of 2010 were RMB1.914 billion
($282.3 million), a 74.4% increase from the corresponding period in
2009.
-- Operating profit in the second quarter of 2010 was RMB971.8 million
($143.3 million), a 129.8% increase from the corresponding period in
2009.
-- Net income in the second quarter of 2010 was RMB837.4 million ($123.5
million), a 118.5% increase from the corresponding period in 2009.
Diluted earnings per ADS(2) for the second quarter of 2010 was RMB2.40
($0.35); diluted earnings per ADS excluding share-based compensation
expenses (non-GAAP) for the second quarter of 2010 was RMB2.46 ($0.36).
(1) This announcement contains translations of certain RMB amounts into
U.S. dollars at specified rates solely for the convenience of the
reader. Unless otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB6.7815 to US$1.00, the effective noon
buying rate as of June 30, 2010 in The City of New York for cable
transfers of RMB as certified for customs purposes by the Federal
Reserve Bank of New York.
(2) Effective on May 12, 2010, Baidu adjusted the ratio of its American
depositary shares ("ADSs") representing Class A ordinary shares from
one (1) ADS for one (1) share to ten (10) ADSs for one (1) share. All
earnings per ADS figures in this announcement give effect to the
forgoing ADS to share ratio change.
Firm raises price target on search engine after second-quarter earnings.
Goldman Sachs upped its price target on shares of Baidu.com following strong second quarter numbers. The firm sees the stock climbing to $90 per share as its customer base grew with Google exiting China earlier in the year.
ps. double upgrade: UBS upgrade to Buy today, chi-ner!!!
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