Second-quarter revenue rose 10.2% year over year to $2.7 billion, and 16.3% after adjusting for Baidu’s divestiture of online travel business Qunar in October. This was higher than $52.5 million, or $0.28 per share, in last year’s second quarter. The agreement says eleven could receive up to $262.5 million if certain regulatory, development and commercialization milestones are met. Milestones are met. 3,583,279 shares of the company’s stock traded hands. Company has 33.50% insider ownership.
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The analyst reiterated Overweight rating for the stock, but lowered its Price Target from prior target of $215 to $180. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $238.00 price objective (down from $240.00) on shares of Baidu in a research note on Monday, May 2nd. -Earnings Decline (Y-o-Y): -30.1% -EPS (Q2): RMB8.08 vs. RMB11.39 a year ago. Beta of Baidu Inc (ADR) (NASDAQ:BIDU) is 2.26 while company weekly performance is 2.62%.
Baidu expects third-quarter revenue to be between $2.714 billion and $2.796 billion, which would represent a year-over-year decrease of 1.9% at the low end of the range, or an increase of 5.4% to 8.6% after adjusting for the Qunar divestiture. On a per-share basis, the Beijing-based company said it had net income of $1.05. Earnings, adjusted for non-recurring gains, came to $1.07 per share.
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Analysts had expected revenue to rise 9.6 percent. Analyst’s mean target price for TCK is $11.26 while analysts mean recommendation is 2.90.
Eleven Biotherapeutics, Inc. (NASDAQ:EBIO) advanced 10.35% to close at $4.37 on 28 July. Eleven Biotherapeutics, Inc. (NASDAQ:EBIO) price to sales (P/S) ratio is 85.82. Barnett & Company Inc. acquired a new position in shares of Baidu during the first quarter worth $164,000. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.10.
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Still, the investment drove a closely watched measure of total transaction value, with transaction services’ gross merchandise value surging to 18 billion yuan ($2.7 billion), up from $2.5 billion in the previous quarter.
