BIDU Set to Beat Q2 Rev?

纵横四海

Posted Wed Jun 25, 03:50 pm ET
Posted By: Jim Giaquinto

Baidu.com’s (BIDU) second-quarter revenue could be better than expected, according to a brokerage analyst. The news sent shares of this Chinese language Internet search provider higher by approximately 7.3% on Wednesday.

According to news reports, the analyst believes that revenue could surpass the company’s guidance of between $111 million and $114 million.

BIDU is already a Zacks #2 Rank company. Earnings estimates for the quarter are about 5.5% higher than one month ago, while expectations for the year are also up in that timeframe. Heading into its quarterly report, BIDU is on a four-quarter winning streak, having amassed an average surprise of 15.7%. If this analyst is correct, and BIDU is heading into another strong quarterly performance, then it may be enough to give the company a boost to a Zacks #1 Rank.