Baidu Earnings: Solid Growth

Baidu, Inc. (NASDAQ:BIDU) delivered a profit and beat Wall Street’s expectations, yet shares are down 0.23%.

Baidu, Inc. Earnings Cheat Sheet

Results: Net income of $448.7 million ($1.31 per diluted share) in the quarter.

Revenue: $1.02 billion

Actual vs. Wall St. Expectations: Baidu, Inc. reported adjusted net income of $1.31 per share. By that measure, the company beat the mean analyst estimate of $1.29.

Quoting Management: “Baidu once again posted solid growth in 2012 amidst challenging macro conditions,” said Robin Li, chairman and chief executive officer of Baidu. “Similar to the early days of the Internet, this is a time of boundless innovation, creativity and opportunity in our industry. We are at the heart of the Internet in China and we’re excited to embrace and lead the next stage of mobile- and cloud-centric Internet growth…