17:03 | BIDU | (2501.00 -0.17)
Baidu.com beats by $0.23, beats on revs; guides Q3 revs above consensus
Reports Q2 (Jun) earnings of $1.67 per share, excluding non-recurring items, $0.23 better than the Capital IQ Consensus of $1.44; rev +14% to $3.08 bln vs. $3.04 bln consensus.
Online marketing revenues for the second quarter of 2017 were RMB17.883 billion ($2.638 billion), representing a 5.6% increase from the corresponding period in 2016. Baidu had about 470,000 active online marketing customers in the second quarter of 2017, representing a 20.9% decrease from the corresponding period in 2016. Revenue per online marketing customer for the second quarter of 2017 was approximately RMB37,500 ($5,532), a 32.0% increase from the corresponding period in 2016. Traffic acquisition costs as a component of cost of revenues was RMB2.478 billion ($365 million), representing 11.9% of total revenues, compared to 15.9% in the corresponding period in 2016 and 12.9% in the first quarter of 2017. Mobile rev +72%.
Co issues upside guidance for Q3, sees Q3 revs of $3.412-3.503 bln vs. $3.37 bln Capital IQ Consensus Estimate.