Baidu.com beats by $0.85, misses on revs; guides Q1 revs below consensus (184.64 -1.37)
- Reports Q4 (Dec) earnings of $1.91 per share, $0.85 better than the Capital IQ Consensus of $1.06; rev -2.6% to $2.62 bln vs. $2.66 bln consensus.
- Mobile search monthly active users (MAUs) were 665 million for the month of December 2016, an increase of 2% year-over-year Mobile maps MAUs were 341 million for the month of December 2016, an increase of 13% year-over-year Gross merchandise value[2] (GMV)for Transaction Services totaled RMB18.1 billion ($2.6 billion) for the fourth quarter of 2016, an increase of 23% year-over-year Baidu Wallet activated accounts reached 100 million at the end of December 2016, an increase of 88% year-over-year.
- Co issues downside guidance for Q1, sees Q1 revs of $2.374-2.453 bln vs. $2.49 bln Capital IQ Consensus Estimate.
- Board changes: Dr. Qi Lu, Baidu's Group President and Chief Operating Officer, has been appointed as a director and the vice chairman of the board of directors of the Company. Mr. Greg Penner, who has served as a board member since July 2004, will step down from the board and all the committees on the board. Mr. Yuanqing Yang has been appointed as a member of the audit committee and as a member of the corporate governance and nominating committee of the board of directors of the Company.