Baidu.com Inc. (ADR) (NASDAQ: BIDU) last month reported a significant rise in its profits for the fourth quarter and full year 2010 due to a 94% increase in online marketing revenues.
The company’s net income for the fourth quarter was RMB 1.16 billion or $175.9 million as compared to RMB 0.43 billion in the previous year. The net income jumped to RMB 3.32 or $0.50 per ADS from RMB 1.23 per ADS in the prior-year quarter. The results for the fourth quarter included total adjustments of RMB 28.17 million, compared to RMB 18.73 million a year ago. Excluding adjustments, net income for the quarter was RMB 1.19 billion, compared to RMB 0.45 billion last year.
The company�s adjusted net income per ADS for the quarter was RMB 3.40 or $0.52. The total revenues for the quarter increased 94.4% to RMB 2.45 billion or $371.3 million from RMB 1.26 billion last year. The company had about 276,000 active online marketing customers in the fourth quarter, representing a 23.8% increase from the corresponding period in 2009. The traffic acquisition cost or TAC as a component of cost of revenues was RMB 199.4 million or $30.2 million, representing 8.1% of total revenues, as compared to 16.0% in the corresponding period in 2009. The interest income for the quarter increased to RMB 23.27 million from RMB 9.31 million in the prior-year quarter.
For the full year 2010 the company�s net income increased to RMB 3.52 billion ($534.1 million) or RMB 10.10 ($1.53) per ADS from RMB 1.48 billion or RMB 4.27 per ADS last year. The adjusted earnings were was RMB 10.36($1.57) per ADS for the year. The total revenues for the year increased to RMB 7.91 billion or $1.199 billion from RMB 4.45 billion last year.
The company currently expects to generate total revenues of RMB 2.380 billion or $360.6 million to RMB 2.450 billion or $371.2 million in the first quarter of 2011, representing an 83.9% to 89.3% year-over-year increase.
Baidu.com stock is currently trading at $121.08. The stock is up 1.36% from its previous close. Baidu.com shares stock touched the high of $121.95 and lowest price in today�s session is $120.22. The company stock�s beta is 1.72.
The company stock traded in the range of $51.25 and $131.63 during the past 52 weeks. The company�s market cap is $42.23 billion.
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