Baidu.com - NASDAQ: BIDU crashed - dieses Jahr noch unter 30 US Dollar? (Seite 116)

[Trader20008]

sehr schön..

Zitat von Karlll: 27.07.2011 12:05
BörseGo · Mehr Nachrichten von BörseGo · Archiv
HSBC erhöht Kursziel für Baidu.com von $181 auf $195.

HSBC erhöht Kursziel für Baidu.com von $181 auf $195.

(© BörseGo AG 2011 - Autor: Thomas Gansneder, Redakteur)

© 2011 BörseGo

[Karlll]

How Baidu Keeps Its Edge

http://www.fool.com/investing/general/2011/07/30/how-baidu-k…

Eric Bleeker
July 30, 2011

Few fields move as rapidly as technology. Businesses creating outsized profits and returns for shareholders quickly get a bull's-eye painted on their back as they become targets of other companies looking to disrupt their products by selling cheaper alternatives that still prove "good enough." Not only that, but even if a company continues to dominate its particular field, other changes in technology can shift spending away from their products. Think about how Microsoft still dominates PCs but feels pressure from the sales shift toward mobile devices such as smartphones and tablets.

With that in mind, today we're looking at how Baidu (Nasdaq: BIDU ) innovates.

Technology companies can innovate either through acquisitions or by spending more money on research and development. We'll compare Baidu's spending in these areas with that of its closest peers and assess whether the company is investing enough in its future.

Research and development
Over the past five years, Baidu has spent an average of 13% of revenues on R&D. The following table summarizes how Baidu's R&D R&D expenditures relative to revenues compare with some of the company's closest peers in the Internet search industry.


LTM
Baidu 9.5% 8.1% 9.0% 9.5% 9.1% 9.2%
Sohu (Nasdaq: SOHU ) 13.1% 13.5% 11.6% 11.1% 11.9% 12.2%
Google (Nasdaq: GOOG ) 11.6% 12.8% 12.8% 12.0% 12.8% 13.5%
Yandex (Nasdaq: YNDX ) N/A N/A 13.2% 18.5% 16.6% 16.5%

Source: Capital IQ, a division of Standard & Poor's. LTM = last 12 months. Dates above are calendar years; yearly total is for company fiscal years closing in that period.

There's no way around it: Google has Baidu flat-out beat when it comes to R&D. Last year, Google spent $4.5 billion on research, far outpacing Baidu's minuscule $151 million spend. Surely at some point Google will use its vast resources to make inroads into China, right?

Actually, it probably won't. Although innovation is important, so are local market dynamics and being the first mover in a particular market. Baidu's search results used to be woefully inadequate compared to Google, but local favoritism and the willingness to play by local regulations kept Baidu in the game against Google, while its larger rival became entangled in a high-stakes game of brinksmanship that resulted in its leaving the country.

The end result is that Baidu has managed to increase to a dominant 86% market share within China. Western investors may bristle at the fact that Baidu was essentially a Google clone that used local savvy and politics to assert its dominance, but in the end, its position as China's search leader looks very secure.

So Baidu investors are now looking to a future where the company's focus could broaden to divergent areas across China's Internet industry, much like how Google has expanded to other areas that enhance its search and advertising expertise. For example, Baidu has made noise by talking about developing a mobile operating system. There have also been reports that it could team up with Facebook to launch a China-specific version of the world's largest social network that would compete against Chinese social platforms such as Renren (NYSE: RENN ) and SINA's (Nasdaq: SINA ) Weibo. Other areas Baidu could attack more aggressively include video, where Youku (NYSE: YOKU ) has been able to establish itself as a market leader.

With search dominance in China largely secured, keep an eye out on how aggressively the company emulates Google's worldwide model of leveraging search dominance into other rapidly growing Web areas.

Acquisitions
In technology, some of the best companies have turned growth through acquisitions into an art. IBM has adeptly spun off capital-heavy businesses such as the hard-drive and PC segments, while it focused on acquiring additional services and software expertise that have transformed its business model.

On the opposite end of the spectrum, Hewlett-Packard is often criticized for underinvesting in R&D, to the point that it has to overpay on acquisitions to catch up with its competitors.

Investors should remember, most of all, that companies are valued by the cash flow they can bring in for their shareholders over time. If companies need to continue making purchases in perpetuity to keep growing, that amounts to a reduction in cash flows, and investors should treat acquisition spending as a continuing outflow against cash flow.

Let's take a look at Baidu's free cash flow over the past five years against cash spent on acquisitions.


Source: Capital IQ, a division of Standard & Poor's. LTM = last 12 months. Dates above are calendar years; yearly total is for company fiscal years closing in that period.

Baidu doesn't have a history of acquisitions. Since 2006, its cash acquisitions total just $9.2 million, a rounding error for a company of its size. While that could change in the future as the company expands into new areas, at this point Baidu's cash flows are a reflection of its organic ability to grow.

Final thoughts
If you're looking to stay updated on Baidu, or any other companies mentioned here, make sure to add them to our free watchlist service, My Watchlist. It's free, and it helps you constantly stay updated on news and analysis on your favorite companies.

[Karlll]

Nun, denn auf zu Baidu+


Where Baidu Is Heading After 2Q11
by: Xiaofan Zhang July 28, 2011 | about: BIDU, includes: GOOG, RENN, SINA, TCEHY.PK



After celebrating Baidu's (BIDU) stellar home run for 2Q11 earnings, many investors are wondering "What's next" for China's Internet search bellwether. In this article, I analyze Baidu's 2Q earnings call and identify several major trends in Baidu's business.

In the Q2 call, CEO Robin Li introduced Baidu's "Landing Page Strategy," a brand-new term to investors. With this strategy, Baidu replaces advertisements with high-quality content for the first result on certain keywords' search results pages and at the same time maintains its ability to make money from the first result through investments in partnerships with the providers of the first result. Mr. Li explained the strategy perfectly during the call: "We have bolstered our landing page strategy with strategic partners and investments in premium vertical players ... For example, shortly we will launch enhanced hotel-related content with Qunar (a website Baidu recently invested in). When you search for hotels, we will serve Qunar information at the top of our results page if it is relevant ... Each vertical partner in our landing page strategy shares the characteristic of having developed a premium database of content ... We do see value in the vertical search areas. That's why we make partnerships and investments in a number of companies in this sector." In my view, the introduction of "Landing Page Strategy" indicates Baidu is making a big push into the downstream of the search engine value chain. The goal is to obtain more economic value from users' search activities by following users' click streams beyond the search results pages.

In addition to the Landing Page Strategy, large advertisers and e-commerce are the other two new focal points during the Q2 earnings call. Compared with the Q1 call, Baidu management spent considerably more time talking about these two topics. Specifically, CEO Robin Li highlighted large advertisers and e-commerce as two major drivers for Baidu's strong Q2 results. In his second sentence in the Q2 press release, Mr. Li said: "We were especially encouraged with the strong spending from large customers, highlighting the increased value they saw from their marketing spend on Baidu." In his prepared remarks during the call, Mr. Li said: "We also benefited from strong momentum in e-commerce. First, the online retail sector continued to see triple-digit growth. Second, spending by group-buying sites increased rapidly in the past quarter. This was the main driver for our outperforming guidance this past quarter." To summarize Baidu's three latest positive trends, the Landing Page Strategy is gaining momentum as evidenced by Qunar.com and Qiyi.com, large advertisers are accelerating their shift to search ads spending, and e-commerce activities are bringing explosive traffic growth to Baidu. It should be noted that in addition to these three new trends, the Phoenix Nest system achieved solid growth during Q2 and remained the anchor of Baidu's financial results.

In contrast to the above three positive trends, social media, a key part of the Internet's future, has been trending down at Baidu. Compared with the Q1 call, Baidu's management remained optimistic on the company's social media efforts. However, analysts participating in the Q2 call seemed far less interested in Baidu's social media business than they were in the Q1 call, as evidenced by their time spent on the topic during the call. This indicates that compared with one quarter ago, investors have become less optimistic about Baidu's future in the social media market. This should not come as a surprise. After all, Q2 was a quarter filled with milestones achieved by the other Chinese social media companies: Renren.com (RENN) raised $743.4 million in a high-profile IPO; Tencent (TCEHY.PK) Microblog reached 200 million registered accounts in June, doubling in just four months; Sina (SINA) Weibo adopted the independent domain name Weibo.com and launched a large-scale marketing campaign to maintain its leadership in China's microblogging market. These landmarks dwarfed Baidu's slow progress in Q2. In my view, Baidu should go beyond just adding social elements to existing products such as Baidu Post Bar, Baidu Knows, and Baidu Encyclopedia. These minor adjustments will not be enough to reflect the core concept of social media or social networking services. A new product similar to Google's (GOOG) Google+ is what Baidu really needs now. Having said that, I believe investors currently do not have high expectations on Baidu's social media efforts, so Baidu actually has a golden opportunity to surprise the market in this area.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

[Karlll]

27.07.2011 12:05
BörseGo · Mehr Nachrichten von BörseGo · Archiv
HSBC erhöht Kursziel für Baidu.com von $181 auf $195.

HSBC erhöht Kursziel für Baidu.com von $181 auf $195.

(© BörseGo AG 2011 - Autor: Thomas Gansneder, Redakteur)

© 2011 BörseGo

[Karlll]

Baidu Q3 forecast beats estimates
07:14 PM Jul 26, 2011
BEIJING - Baidu, China's largest Internet company by market value, forecast third-quarter revenue that surpassed analysts' estimates as customers spend more on search-engine advertising in the world's second-largest economy.

Revenue will rise to between 3.95 billion yuan (S$737 million) and 4.05 billion yuan in the three months to Sept 30, Baidu said in a statement on Tuesday. The Beijing-based company's guidance beat all 11 analyst estimates compiled by Bloomberg.

Baidu's earnings have been rising for more than a year as the company has added advertisers and benefited from a new keyword advertising system. It has also continued to eclipse Google's share of the local search market since the US company moved its China search engine to Hong Kong last year over concerns of censorship and hacking in China.

Baidu chief executive Robin Li said in a teleconference that Baidu is working on a new social-networking product as well as a number of mobile phone-related services and systems, but did not elaborate. Previous statements from Baidu have suggested it may be developing an operating system for mobile phones.

Baidu's net profit for the three months ended June was 1.63 billion yuan, or 4.67 yuan per American depositary share, up from 837.4 million yuan a year earlier. Revenue rose 78 per cent to 3.42 billion yuan.

The company, which derives nearly all of its revenue from search advertising, said its number of active online-marketing customers rose 17 per cent to 298,000, as revenue per customer climbed 53 per cent to 11,500 yuan. Strong spending by large customers helped drive its growth, it said.

Baidu had a 75.9 per cent share of revenue in China's online-search market in the second quarter, up slightly from 75.8 per cent in the first quarter, while Google's share fell to 18.9 per cent from 19.2 per cent, Beijing research firm Analysys International said. - AGENCIES

[Karlll]

Antwort auf Beitrag Nr.: 41.843.127 von edgar99 am 25.07.11 23:43:00

Und ich dachte, daß sie dieses Mal patzen wird. Wieder 12% über den ohnehin schon hohen Konsenszahlen.

Außerdem für das 3. Quartal ebenfalls höhere Erwartungen. Das ist sagenhaft.

Angenehme Nachtruhe.


Karlll

[Karlll]

25.07.2011 22:31
Baidu Announces Second Quarter 2011 Results

BEIJING, July 25, 2011 /PRNewswire-Asia/ -- Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced its unaudited financial results for the second quarter ended June 30, 2011(1).

(Logo: http://photos.prnewswire.com/prnh/20081103/BAIDULOGO )

Second Quarter 2011 Highlights

* Total revenues in the second quarter of 2011 were RMB3.415 billion ($528.4 million), a 78.4% increase from the corresponding period in 2010.


* Operating profit in the second quarter of 2011 was RMB1.858 billion ($287.5 million), a 91.2% increase from the corresponding period in 2010.


* Net income in the second quarter of 2011 was RMB1.633 billion ($252.6 million), a 95.0% increase from the corresponding period in 2010. Diluted earnings per ADS(2) for the second quarter of 2011 were RMB4.67 ($0.72); diluted earnings per ADS excluding share-based compensation expenses (non-GAAP) for the second quarter of 2011 were RMB4.77 ($0.74).


"Baidu had another excellent quarter, as we benefited from strong traffic growth and improved monetization," said Robin Li, chairman and chief executive officer of Baidu. "We were especially encouraged with the strong spending from large customers, highlighting the increased value they saw from their marketing spend on Baidu."

"We continued to see strong momentum and product integration from our Box Computing open data and application platforms during the quarter," Mr. Li continued. "Our position at the center of China''s Internet ecosystem enables Baidu to benefit from key trends such as the growth of e-commerce. Looking ahead, I am confident that Baidu''s emphasis on innovation and execution will help us continue to attract and retain users and customers."

Jennifer Li, Baidu''s chief financial officer, commented, "Our top and bottom line results grew strongly again this quarter, with healthy increases in overall traffic and paid click growth. We will continue to accelerate our investments in strategic areas, R&D, network infrastructure and bringing new talents on board to drive long term growth."

(1) This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.4635 to US$1.00, the effective noon buying rate as of June 30, 2011 in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.


(2) Effective on May 12, 2010, Baidu adjusted the ratio of its American depositary shares ("ADSs") representing Class A ordinary shares from one (1) ADS for one (1) Class A ordinary share to ten (10) ADSs for one (1) Class A ordinary share. All earnings per ADS figures in this announcement give effect to the forgoing ADS to share ratio change.



Second Quarter 2011 Results

Baidu reported total revenues of RMB3.415 billion ($528.4 million) for the second quarter of 2011, representing a 78.4% increase from the corresponding period in 2010.

Online marketing revenues for the second quarter of 2011 were RMB3.414 billion ($528.3 million), representing a 78.4% increase from the corresponding period in 2010. Baidu had approximately 298,000 active online marketing customers in the second quarter of 2011, representing a 17.3% increase from the corresponding period in 2010 and an 8.8% increase from the previous quarter. Revenue per online marketing customer for the second quarter was approximately RMB11,500 ($1,779), a 53.3% increase from the corresponding period in 2010 and a 29.2% increase from the previous quarter.

Traffic acquisition cost (TAC) as a component of cost of revenues was RMB269.1 million ($41.6 million), representing 7.9% of total revenues, as compared to 9.7% in the corresponding period in 2010 and 8.2% in the first quarter of 2011.

Bandwidth costs as a component of cost of revenues were RMB146.7 million ($22.7 million), representing 4.3% of total revenues, compared to 3.5% in the corresponding period in 2010. Depreciation costs as a component of cost of revenues were RMB143.2 million ($22.2 million), representing 4.2% of total revenues, compared to 4.4% in the corresponding period in 2010.

Selling, general and administrative expenses were RMB377.5 million ($58.4 million), representing an increase of 42.5% from the corresponding period in 2010, primarily due to increased personnel costs and marketing expenses.

Research and development expenses were RMB298.7 million ($46.2 million), an 87.5% increase from the corresponding period in 2010. The increase was primarily due to increased R&D headcount.

Share-based compensation expenses, which were allocated to related operating costs and expense line items, were RMB34.7 million ($5.4 million) in the second quarter of 2011, compared to RMB21.6 million in the corresponding period in 2010 and RMB31.3 million in the previous quarter.

Operating profit was RMB1.858 billion ($287.5 million), representing a 91.2% increase from the corresponding period in 2010. Operating profit excluding share-based compensation expenses (non-GAAP) was RMB1.893 billion ($292.9 million), a 90.6% increase from the corresponding period in 2010.

Income tax expense was RMB285.5 million ($44.2 million), compared to an income tax expense of RMB140.5 million in the corresponding period in 2010. The effective tax rate for the second quarter of 2011 was 14.9%, compared to 14.4% for the corresponding period in 2010 and 14.5% in the previous quarter.

Net income was RMB1.633 billion ($252.6 million), representing a 95.0% increase from the corresponding period in 2010. Basic and diluted earnings per ADS for the second quarter of 2011 amounted to RMB4.68 ($0.72) and RMB4.67 ($0.72), respectively.

Net income excluding share-based compensation expenses (non-GAAP) was RMB1.667 billion ($258.0 million), a 94.1% increase from the corresponding period in 2010. Basic and diluted earnings per ADS excluding share-based compensation expenses (non-GAAP) for the second quarter of 2011 amounted to RMB4.78 ($0.74) and RMB4.77 ($0.74), respectively.

As of June 30, 2011, Baidu had cash, cash equivalents and short-term investments of RMB10.274 billion ($1.590 billion). Net operating cash inflow and capital expenditures for the second quarter of 2011 were RMB2.08 billion ($322.2 million) and RMB383.7 million ($59.4 million), respectively.

Adjusted EBITDA (non-GAAP), defined in this announcement as earnings before interest, taxes, depreciation, amortization, other non-operating income and share-based compensation expenses, was RMB2.077 billion ($321.4 million) for the second quarter of 2011, representing an 88.1% increase from the corresponding period in 2010.

Outlook for Third Quarter 2011

Baidu currently expects to generate total revenues in an amount ranging from RMB3.950 billion ($611.1 million) to RMB4.050 billion ($626.6 million) for the third quarter of 2011, representing a 75.1% to 79.5% year-over-year increase. This forecast reflects Baidu''s current and preliminary view, which is subject to change.

Conference Call Information

Baidu''s management will hold an earnings conference call at 8:00 PM on July 25, 2011, U.S. Eastern Daylight Time (8:00 AM on July 26, 2011, Beijing/Hong Kong time).

Dial-in details for the earnings conference call are as follows:

[edgar99]

Hi,
das sieht ja gut aus: nachbörslich dzt. 168,38 US$.
edgar99

[Karlll]

BAIDU schaut auf neue Allzeithochs hinaus
25.07.2011 04:12 |

Copyright BörseGo AG 2000-2011
Börse: NYSE in USD / Kursstand: 155,63 $
Rückblick: Die Baidu Aktie ist einer der krassen Outperformer am US Markt, in einer starken Rally
erreichte der Wert ein Allzeithoch bei 156,04 $ Ende April. Anschließend startete eine Abwärtskorrektur,
welche den Wert bis an den EMA200 (rot) zurücksetzen ließ.
Seit Mitte Juni steigt die Aktie wieder, die Käufer zeigen sich weiterhin als die dominanten
Marktteilnehmer. Im heutigen Handel schaut die Aktie kurz über das Allzeithoch bei 156,04 $ hinaus.
Charttechnischer Ausblick: Die Baidu Aktie steht kurz vor einem neuen Kaufsignal. Geht es jetzt
nachhaltig über 158,00 $, könnte ein Rallyschub zu den Aufwärtstrendoberkanten bei ca. 190,00 und
210,00 - 215,00 $ folgen.
Tiefer als 137,00 sollte es aber möglichst nicht mehr gehen, ein Tagesschluss unterhalb davon würde eine
Abwärtskorrektur bis 123,00 - 125,00 oder darunter ggf. 110,00 - 114,00 $ ermöglichen.

[Karlll]

19.07.2011 16:54 (Marcel Maurice Urech)
Lizenzvereinbarung
Baidu schafft, was Google nicht schafft

Seit Monaten verhandelt Google erfolglos mit der Industrie über Streaming-Rechte für Musik. Baidu machts vor: Sony, Universal und Warner gewähren der Suchmaschine Zugriff auf ihre Kataloge.

"Google must be going WTF", schreibt ein Leser von Engadget treffend zur neusten Ankündigung aus dem Hause Baidu. Tatsächlich: Lange hat Google ohne Erfolg versucht, sich mit der Industrie über Streaming-Rechte für Musik zu einigen - Baidu hat nun genau dies geschafft.

Die Suchmaschine aus China hat eine Vertriebsvereinbarung mit One-Stop China (einem Joint-Venture der drei Musik-Labels Universal Music, Warner Music und Sony Music) erzielt. Diese ermöglicht es Baidu, auf seiner Suchplattform und dem sozialen Netzwerk Ting Musik der drei Labels legal zum Streaming oder Download anzubieten.
AdTech Ad

Das Abkommen ist das Ende eines jahrelangen Rechtsstreits zwischen Baidu und der US-Musikindustrie. Nun habe man alle Streitigkeiten beigelegt, so die chinesische Suchmaschine.