NEW YORK (TheStreet) -- Shares of Baidu (BIDU) - Get Report are advancing 0.22% to $166 in after-hours trading on Thursday after the company posted higher-than-expected results for the 2016 second quarter.
After today's market close, the Beijing-based Internet search provider reported adjusted earnings of $1.22, topping analysts' estimates of $1.18 cents per share.
Revenue rose 10.2% to $2.75 billion from last year and was above analysts' expectations of $2.73 billion.
Mobile search monthly active users climbed 6% to 667 million year-over-year for the month of June.
Gross merchandise value for transaction services totaled $2.7 billion for the quarter, an increase of 166% year-over-year.
"The challenges Baidu faced in the second quarter served as a healthy reminder to stay focused on the key drivers of growth, sustainability and leadership: delivering the best user experience and staying at the forefront of technology," Robin Li, Baidu CEO, said in the statement.
For the third quarter, Baidu sees revenue between $2.71 billion and $2.77 billion, while analysts are expecting $2.72 billion.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate BAIDU INC as a Buy with a ratings score of B-. This is driven by some important positives, 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, notable return on equity, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: BIDU