Baidu beat expectations for q3, and BIDU is up $12 AH to about $181.
They completed the share buyback (see Share Repurchase below) and authorized another $2 billion (see below).
The conference call is at 8:00 PM EDT.
Excerpt:
"With mobile accounting for nearly two-thirds of Baidu's search traffic and China squarely in a mobile age, Baidu is pioneering and redefining the mobile experience for users in China. We further extended the reach of our platform by deeply integrating and connecting search and maps with transaction services," said Robin Li, chairman and CEO of Baidu. "We have made great momentum in O2O and seen strong progress in transaction services for Baidu," Li said.
"We delivered another solid quarter, with mobile growing its contribution. The momentum in transaction services gives us the confidence to continue investing," said Jennifer Li, CFO of Baidu. "We will invest in ways that leverage and buttress our competitive advantage," she said.
Third Quarter 2015 Operational Highlights
Mobile search monthly active users (MAUs) were 643 million for the month of September 2015, an increase of 26% year-over-year Mobile maps MAUs were 326 million for the month of September 2015, an increase of 34% year-over-year Gross merchandise value[2] (GMV) for Transaction Services totaled RMB60.2 billion ($9.5 billion) for the third quarter of 2015, an increase of 119% year-over-year Baidu Wallet activated accounts reached 45 million at the end of September 2015, an increase of 520% year-over-year
[2]
| Gross merchandise value (GMV) for Transaction Services is defined as GMV generated by Qunar, Baidu Nuomi and Baidu Takeout Delivery. GMV generated by Qunar is defined as the value of confirmed orders of products and services, excluding cancellations. GMV generated by Baidu Nuomi and Baidu Takeout Delivery is defined as the value of confirmed orders of products and services, regardless of whether the service has been consumed or delivered.
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Share Repurchase
In the third quarter of 2015, the Company completed its share repurchase program authorized by the board of directors in July 2015. Under the program, the Company repurchased approximately 6.0 million ADSs for approximately $1 billion. On October 22, 2015, Baidu's board of directors authorized a new share repurchase program under which the Company may repurchase up to $2 billion of its shares over the next 24 months.
SOURCE Baidu, Inc. website
The full release has 4 footnotes, [1], [2], [3], [4] |
