The Beijing-based Baidu.com, Inc (ADR) (NASDAQ:BIDU) estimates the slowest quarterly sales expansion in 3 years, below the analysts’ forecasts, as a weaker economy discourages online advertising expenditure.
Baidu.com, owner of China’s most- used search engine, reported in a statement on Monday that revenue will range from 6.16 billion Yuan or $987 million to 6.35 billion Yuan in the Q4. That evaluates against the 6.41 billion-Yuan median of 13 analysts’ forecasts gathered by Bloomberg.
The top end of the guidance range show year-on-year sales expansion of 42%, the slowest rate since the Q4 of 2009, when revenue moved up 40%, as shown in the Bloomberg gathered data.
Sluggish economic expansion in China is damping demand for online advertising at the same time Baidu is fending off new rivalry from Qihoo 360 Technology Co Ltd (NYSE:QIHU), manufacturer of China’s most-used Web browser
Baidu, a Chinese-language Internet search provider, which serves 3 types of online participants including users, customers and Baidu union members, reported in its statement that net income moved up to 3.01 billion Yuan or 8.59 Yuan per American depositary receipt, from 1.88 billion Yuan or 5.38 Yuan per ADR in previous year. That surpassed the 2.77 billion-Yuan median forecasts of 10 analysts’ gathered by Bloomberg.
Baidu.com, Inc. (ADR) (NASDAQ:BIDU) has market capitalization of 39.78 billion and offered 55.06% Return on equity. The company’s institutional ownership was 78.64% while its price to earnings ratio was 28.97. Company’s net profit margin was 46.45% while gross profit margin was 76.46%. Beta factor was 1.79. The Beta factor, which is used as a measure of a company’s volatility in relation to the market, was 2.67 while the PEG ratio of the company was 0.68.
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