NEW YORK (TheStreet) -- Shares of Baidu (BIDU) - Get Baidu, Inc. Sponsored ADR Class A Report were gaining 5.5% to $236.76 Thursday after beating analysts' estimates for earnings in the third quarter.
The Chinese Internet company reported earnings of 11 yuan (about $1.79) a share for the third quarter, above the 9.75 yuan (about $1.59) a share analysts surveyed by Thomson Reuters expected for the quarter. Revenue grew 12.9% year over year to 13.52 billion yuan (about $2.2 billion) for the quarter, below analysts' estimates of 13.56 billion yuan.
Baidu said that mobile traffic surpassed PC traffic in the third quarter, generating 36% of total revenue.
The company expects a 45.4% to 49.6% increase in revenue in the fourth quarter.
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 a few notable 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. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
You can view the full analysis from the report here: BIDU Ratings Report