Revenue Update on Baidu Inc (ADR)(NASDAQ:BIDU)

Baidu Inc (ADR)(NASDAQ:BIDU) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $2.75B. Analysts estimated a revenue of $18.30B. Earnings per share were $1.22. Analysts had estimated an EPS of $7.42.

In a different note, On Jul 25, 2016, Citigroup said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Lowers the price-target to $180.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 20, 2016, Credit Suisse said it Assumes its rating on Baidu Inc (ADR). The shares have been rated ‘Outperform’ by the firm. On Jun 13, 2016, Citigroup said it Downgrades its rating on Baidu Inc (ADR). In the research note, the firm Lowers the price-target to $238.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 12, 2016, Jefferies said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Lowers the price-target to $225.00 per share. The shares have been rated ‘Buy’ by the firm. On May 11, 2016, Morgan Stanley said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Lowers the price-target to $230.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 2, 2016, Macquarie said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Raises the price-target to $246.00 per share. The shares have been rated ‘Outperform’ by the firm.

Baidu Inc (ADR) (BIDU) made into the market gainers list on Thursdays trading session with the shares advancing 0.20% or 0.32 points. Due to strong positive momentum, the stock ended at $162.56, which is also near the day’s high of $164.155. The stock began the session at $162.72 and the volume stood at 17,48,307 shares. The 52-week high of the shares is $217.97 and the 52 week low is $100. The company has a current market capitalization of $56,343 M and it has 34,65,99,530 shares in outstanding.

Baidu Inc. (Baidu) is a Chinese-language Internet search provider (ISP). Baidu serves three types of online participants which include users customers and Baidu Union Members. The Company offers a Chinese-language search platform on its Website Baidu.com. It provides Chinese-language Internet search services to enable users to find relevant information online including Web pages news images documents and multimedia files through links provided on its Websites. It designs and delivers its online marketing services primarily on its Baidu.com Website to its online marketing customers. As of December 31 2014 the Company had approximately 813000 active online marketing customers. Its online marketing customers consist of small and medium enterprises (SMEs) throughout China domestic companies and Chinese divisions or subsidiaries of multinational companies.

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