Why Baidu (BIDU) Stock Is Surging in After Hours Trading Today

NEW YORK (TheStreet) -- Baidu  (BIDU) surged in after-hours trading on Thursday after the Chinese Internet company reported second-quarter earnings that smashed analysts' expectations.

Baidu reported earnings per share, excluding items, of $1.73, 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 had hit a 52-week high of $205.50 on Thursday, but it surged beyond that by more than 6% in after-hours trading.

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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 Report

BIDU Price Chart BIDU Price data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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