Stock Monitor: Bitauto Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 28, 2017 / Active-Investors' free earnings report on Baidu, Inc. (NASDAQ: BIDU) has freshly been issued to its members. You can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=BIDU. The Company reported its third quarter fiscal 2017 operating results on October 26, 2017. The Chinese search engine giant outperformed top- and bottom-line expectations and also provided guidance for the upcoming quarter. Register today and get free access to our complimentary member's area, where many more reports are available: www.active-investors.com/registration-sg.

Active-Investors.com is currently working on the research report for Bitauto Holdings Limited (NYSE: BITA), which also belongs to the Technology sector as the Company Baidu. Do not miss out, become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=BITA.

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Baidu's most recent news is on our radar and we have decided to include it in our blog post. Today's free coverage is available at: www.active-investors.com/registration-sg/?symbol=BIDU.

Earnings Highlights and Summary

Baidu's (NASDAQ: BIDU) total revenues were RMB 23.49 billion ($3.53 billion) in Q3 2017, reflecting a 29% increase from revenues of RMB 18.25 billion. The Company's Mobile revenue represented 73% of total revenues for the reported quarter compared to 64% for the year ago same period. Baidu's revenue numbers topped analysts' estimates of $3.47 billion.

Baidu's traffic acquisition costs as a component of cost of revenues was RMB 2.5 billion ($372 million), representing 10.5% of total revenues, compared to 14.2% in Q3 2016. The Company's bandwidth costs as a component of cost of revenues were RMB 1.4 billion ($216 million) in the reported quarter, representing 6.1% of total revenues versus 6.8% in the year ago comparable period. Baidu's operational costs as a component of cost of revenues were RMB 1.4 billion ($208 million) in Q3 2017, representing 5.9% of total revenues compared to 6.3% in Q3 2016.

Baidu's content costs as a component of cost of revenues were RMB 3.9 billion ($586 million) in Q3 2017, representing 16.6% of total revenues, compared to 12.1% in Q3 2016. The y-o-y increase was mainly due to iQIYI's increased content costs.

Baidu's operating profit was RMB 4.70 billion ($706 million) in Q3 2017, representing a 69% increase from operating profit of RMB 2.79 billion in Q3 2016. The Company's non-GAAP operating profit was RMB 5.5 billion ($833 million) in the reported quarter, representing a 73% increase from the prior year's corresponding quarter.

Baidu's net income in Q3 2017 was RMB 7.95 billion ($1.20 billion), representing a 156% increase from net income of RMB 3.10 billion in Q3 2016. The Company's diluted earnings per ADS were RMB 24.05 ($3.62) for the reported quarter compared to RMB 8.05 in the year ago same period. Baidu's non-GAAP net income was RMB 9.1 billion ($1.36 billion) in Q3 2017, a 163% increase from Q3 2016, while non-GAAP diluted earnings per ADS were RMB 26 ($3.89) for the reported quarter. The Company's earnings beat Wall Street's expectations of $2.19 per share.

Baidu's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was RMB 6.8 billion ($1.03 billion) for Q3 2017, representing a 62% increase on a y-o-y basis.

Operating Results

During Q3 2017, Baidu's online marketing revenues were RMB 20.11 billion ($3.02 billion), representing a 22% increase on a y-o-y basis from RMB 16.49 billion in Q3 2016. The Company had approximately 486,000 active online marketing customers in the reported quarter, representing a 7% decrease from the year ago comparable period. Baidu's revenue per online marketing customer was approximately RMB 40,900 ($6,147) for Q3 2017, a 31% increase on a y-o-y basis.

Cash Matters

As of September 30, 2017, Baidu had cash, cash equivalents, and short-term investments of RMB 108.1 billion ($16.25 billion). The Company's net operating cash inflow was RMB 9.7 billion ($1.45 billion) for the reported quarter. Baidu's capital expenditure was RMB 1.3 billion ($0.20 billion) for Q3 2017.

Outlook

For Q4 2017, Baidu is forecasting total revenues between RMB 22.23 billion ($3.34 billion) to RMB 23.41 billion ($3.52 billion), representing a y-o-y growth of 22% to 29%. Excluding disposed businesses, such as mobile games and Baidu Deliveries, the Company's guidance represents a y-o-y growth of 28% to 34%.

Stock Performance Snapshot

November 27, 2017 - At Monday's closing bell, Baidu's stock marginally fell 0.96%, ending the trading session at $247.02.

Volume traded for the day: 2.02 million shares.

Stock performance in the last three-month - up 12.29%; previous six-month period - up 30.09%; past twelve-month period - up 50.22%; and year-to-date - up 50.25%

After yesterday's close, Baidu's market cap was at $86.12 billion.

Price to Earnings (P/E) ratio was at 34.60.

The stock is part of the Technology sector, categorized under the Internet Information Providers industry.

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