NEW YORK (TheStreet) -- Baidu (BIDU - Get Report) surged to a 52-week high of $222.35 on Friday after the Chinese Internet company reported second-quarter earnings that smashed analysts' expectations.
Baidu reported earnings per share of $1.73, excluding items, which crushed the consensus EPS estimate of $1.28. Revenue totaled $1.932 billion, which beat the consensus estimate of $1.92 billion.
The stock was up 8.02% to $220.65 at 10:44 a.m. More than 5.4 million shares had changed hands, compared to the average volume of 3,257,690.
Separately, TheStreet Ratings team rates BAIDU INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate BAIDU INC (BIDU) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
You can view the full analysis from the report here: BIDU Ratings ReportBIDU data by YCharts