Expecting strong Q2 results. Chinese search engine operator Baidu (BIDU) will report 2Q10 results on July 21 after market close. For the quarter, I estimate Baidu generated $280 million revenue (up 48% Q/Q) and $0.33 GAAP EPS, significantly above management guidance of $268.1-274.0 million and consensus of $271.4 million. I attribute the strong growth in Q2 to three factors: advertisers ramping up spending after Chinese New Year, Baidu gaining market share after Google (GOOG) exited China mainland in late March, Phoenix Nest system achieving higher penetration among Baidu's advertising clients.
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Madoff who?
16 years ago
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