Baidu.com, Inc’s (ADR) (NASDAQ:BIDU), the Beijing-based owner of China’s popular search engine, stock tumbled in New York, paring the major weekly gain since January in the benchmark measure of Chinese United States listed companies, after the company’s earnings fell short of Wall Street forecasts.
Bloomberg China-US Equity Index of the most-traded Chinese stocks in United States tumbled 1.4% to 91.17, lowering the weekly boost to 2.4%.
Baidu stock tumbled the most since February. The Internet Company’s net income in fiscal Q1 was 6.8% lower than the average analyst forecasts gathered by Bloomberg.
Profit moved up 8.5%, failing to meet an average boost of 64% in the earlier 5 quarters, as advertiser spending dwindled and China’s growth slows.
CEO Robin Li reported on Friday that the search giant is looking to acquire mobile applications as consumers shift to smart phones from personal computers.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Google Inc (NASDAQ:GOOG) fell -0.95% to settle at $801.42, SINA Corp (NASDAQ:SINA) moved up +0.88% to end at $50.30 while Yandex NV (NASDAQ:YNDX) jumped +0.56% to finish at $25.08 on Friday.
Baidu.com, Inc. (ADR) (NASDAQ:BIDU) last session’s volume of 14.19 million shares was surprisingly higher than its average volume of 3.75 million shares. The stock after opening at $84.09 hit high price of $86.36 and then closed at $85.02 by scoring -7.93%.
The liquidity measure in recent quarter results of the company was recorded 4.21 as current ratio and on the other side the debt to equity ratio was 0.46 and long-term debt to equity ratio remained at 0.37. The Company had total cash of $5.18 billion at hand and a book value per share as $11.88 in the most recent quarter.
The stock’s price volatility was 3.47% for a week and 2.71% for a month as well as price volatility’s Average True Range for 14 days was 3.01 and its beta remained at 1.57.
BIDU generated revenue of $3.61 billion in the previous twelve months and earned $1.69 billion. The Company showed a positive +46.59% in the net profit margin as well as in its operating margin which remained at +49.54%. Company’s annual sales growth for the past five years was +636.48%.
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