Baidu (BIDU) Quarterly Earnings Announcement Delayed
Update: Baidu has announced Q4 2011 financial results will be reported on Thursday, February 16, after market close. The conference call will be at 8:00 p.m. ET. Earnings preview is here.
Baidu has not announced when Q4 2011 financial results will be reported. Baidu responded 1-28-12 to our inquiry regarding the delay: “Our earnings date has not been set yet. It’s very likely to be in 2nd half of February, but no specific date yet. We will announce the date once it’s firmed up.”
The postponement of the earnings announcement raises questions and creates uncertainty. Baidu reported last year on January 31, 2011 and has reported the past 4 quarters ranging from the 25th to the 31st of the month following quarter-end.
As reported previously about Baidu, there has been increasing regulatory risk. Concerns have been heightened in recent months regarding Chinese accounting practices, Chinese government interventions on the Internet, and corporate structuring known as “variable interest entities”.
The fundamentals and outlook for Baidu have been very strong to-date. The earnings preview has until now forecast more record financial results for the quarter we are waiting on to be reported.