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6 pts

Opinion on  Baiducom Inc ADS (BIDU)     Sector: Technology  >  Industry: Computer Services
Baidu(BIDU)'s Q3 2008 Earning Estimate

Jul 22, 2008 07:42 PM UTC
Blokm2-seekingalpha2
Return Risk
-7.80% MID
Associate

Baidu's management will hold an earnings conference call at 8 PM on July 23, 2008 U.S. Eastern Time (8 AM on July 24, 2008 Beijing/Hong Kong time).
Piper Jaffray analysts Gene Munster and Vivian Li, maintain their Buy rating and $430 price target. They said, "We expect Baidu to report slight upside to the Street's estimate of $112m in revenue, despite concerns over the China earthquake in May. From our conversation with four Baidu advertisers and two ad agencies, we believe Baidu's business remains robust given by :

  1. Consistent addition of new customers as advertisers continue to adapt to paid search marketing and
  2. Increased ARPU from bundled sales of Baidu's display ad and search ad."
There is still a small negative impact from the Chinese earthquake on the company's business "as traffic and small and medium advertisers in the earthquake area were both affected." However, the expected impact is not meaningful.

The Analysts current revenue estimate for 3Q08 implies sequential growth of 19%. Baidu is the leading search engine in China, attracting 5.5 million visitors annually.

While Canaccord Adams expects BIDU to report "healthy" Q2 results but remains concerned about the global economic slowdown and inflationary pressures. The firm maintains a Sell rating and $265 target.

Read more at http://conquerthewallstreet.blogspot.com/2008/07/baidubidus-q...

BIDU:  This call was made on 07/22/08 @ $286.53
Rating:   Neutral/Hold   $286.53 (07/22/08)
Closed:   07/24/2008 @ $325.85999 (+13.73% in 2 days)
Target:   $300.00 (+4.70%) in > one year
Allocation:   10.3% of portfolio


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