May
11
2006
Baidu stock prices increase dramatically
China's top search engine, Baidu.com had a dramatic increase in share prices last Wednesday. Tuesday's closing price was at $61.38 but last Wednesday, it was priced at $83.97 at staggering +36.8% increase.
The Beijing-based search engine reported a sharp earnings growth last quarter.
Almost all of Baidu's $17 million in quarterly revenues came from online advertising, nearly triple the same period a year ago, when revenues were $5.7 million.
Baidu reported their Q1 2006 earnings of $4.4 million. This is a 43.5% increase from the same period last year. Wall Street analysts estimated at 12 cents earnings per share but actual EPS is now at 13 cents.
[ via smartmoney.com ]
