Wednesday, July 20, 2011

Baidu to Report Quarterly Earnings on Monday, July 25 (Financial Charts) *Financial Performance Review* BIDU

● Baidu Planet 

Baidu (BIDU) will report Q2 2011 financial results on Monday, July 25, 2011

Chinese Renminbi (RMB)
A rounded conversion rate of RMB6.50 to US$1.00 utilized as an average and estimate in this post
A conversion rate of 6.5483 was utilized at 3-31-11 by Baidu and 6.4549 is the 7-20-11 rate

Baidu Financial Performance Review

Baidu will be reporting Q2 2011 financial results on Monday, July 25, after market close from Beijing, China. The conference call will be at 8:00 p.m. U.S. Eastern Time.

Baidu financial performance charts for prior quarters have been posted on the Baidu Financial Performance page and will be updated for this next quarterly report.

The Baidu financial performance charts are:
Baidu Performance by the Quarters
Earnings per Share
Cash Flow per Share
Total Revenues, Operating Income, Net Income
Gross Margin, Operating Margin, Net Margin
Return on Assets
Total Revenues and Earnings per Share Growth Rates
Traffic Acquisition Costs

Baidu Future and Past Financial Performance

Earnings per Share
Yahoo Finance analysts' estimates Q2 2011: $0.66 average, $0.60 low, $0.71 high, 16 analysts
Prior Quarter Q1 2011: RMB 3.06 = $0.55
Prior Year Q2 2010: RMB 2.40 = $0.37
Baidu did not provide guidance

Total Revenues
Yahoo Finance analysts' estimates Q2 2011: $502.08 million average, $475.31 million low, $515.34 million high, 16 analysts
Prior Quarter Q1 2011: RMB 2.44 billion = $375 million
Prior Year Q2 2010: RMB 1.91 billion = $295 million
Baidu Outlook: RMB 3.23 billion to RMB 3.30 billion = approximately $497 million to $508 million

Prior Q1 2011 Financial Results
When Baidu reports Q2 2011, the 3 months ended June, financial results on July 4, Baidu should meet or beat various prior Q1 2011 results. These financial results are charted on the Baidu Financial Performance page. Baidu for Q1 2011, the 3 months ended March, financial results were:
Total Revenues RMB 2.44 billion = $375 million
Operating Income RMB 1.19 billion = $184 million
Net Income RMB 1.07 billion = $165 million
Earnings per Share RMB 3.06 = $0.55
Gross Profit Margin 72.51%
Operating Income Margin 49.04%
Net Income Margin 43.94%

The expectations are great for Baidu in the world's largest Internet market. Baidu Q2 2011 financial results should meet and exceed Q1 2011 in some areas. The analysts' average Earnings Per Share estimate for Q1 is $0.66, which is a +20% increase from Q1 EPS of $0.55. This appears a very positive estimate and would be an all-time high. The analysts' average Total Revenues of $502.08 million is in line with the Baidu outlook. For Q2 2011, Baidu should beat Q1 2011 on Total Revenues, Operating Income, Net Income, and Earnings per Share. Any misses will be a disappointment. Baidu should be close to, meet, and perhaps beat, Gross Profit Margin, Operating Income Margin, and Net Income Margin. Any beat on margins would result in greater performance. The detailed quarter by quarter charts are on the Baidu Financial Performance page.

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