Baidu’s 1Q Earnings Of $328.9M Misses Analysts’ Estimates As Its R&D Costs Soar

via techcrunch.com

Baidu posted double-digit percentage revenue growth in 1Q2013–but its earnings still missed analysts’ expectations as the Chinese search giant’s costs soared.

Baidu’s 1Q2013 net income increased 8.5 percent to $328.9 million (2.043 billion RMB), short of the $354.9 million (2.19 billion yuan) expected by analysts polled by Bloomberg. Total revenue rose 40 percent from $961 million (5.97 billion RMB), missing the 5.99 billion RMB analysts expected.

Posted via email from Create | Inspire - DM2 Studios