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Baidu is the leading Chinese-language Internet search provider.
The accounting issues for all Chinese companies is a real issue. Bidu has a good business and I am hoping they aren't messing with the books. I took this one off caps long ago and the price places it back under the price I removed it. I own it long-term in my portfolio. It is one of the four chinese companies that I own. Their last report was a really good one. If the next one is just as good, the price should soar like it did last quarter. Price targets by analysts were at an average of $184 per ADR. BIDU accounted for 75.9 percent of China’s search- engine market by revenue in the second quarter, rising from 75.8 percent in the previous three months. Profit for the three months ending June 30 was $252.6 million, or 72 cents per share, the Beijing-based company said. Total revenue rose 78.4 percent from a year earlier to $528 million. They expect revenues for the third quarter to grow 74%. If they hit that BIDU price should soar. However, all of this is moot if they are found to have been messing with the books.
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