Jan
29

Baidu Postpones Earnings Announcement, Cause for Alarm?

David Markets, Technology 2012-01-29


Update 1 on 2-1-12

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.

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Address: http://ospreyflyer.com/baidu-postpones-earnings-announcement-cause-for-alarm/
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  • Jon

    source?

    • http://www.ospreyflyer.com David

      Baidu Investment Relations Department

  • http://www.ospreyflyer.com David

    Baidu Investment Relations Department

  • JY

    They have never set an announcement date in the first place, this title is misleading.

    Anyway, why everyone assume that Baidu will announce earnings on Jan 30th when there is no official source? Due to Chinese New Year holidays, and the facts that people take leaves to travel before Chinese New year especially for people from a huge country like China, plus New Year holiday, people only work for 2 weeks for January. It will be amazing if they choose to announce their earnings in January.

    You might ask why they managed to announce their earnings at the end of January last year, that is because the 1st day of chinese new year fell on Feb 3rd last year. In 2010 it was Feb 14th.

    In 2009, the 1st day of Chinese new year fell on Jan 26th, and Bidu announced their earnings on February 9th, 2009. So there is no need to panic, or relate it to “increasing regulatory risk”. Please try to understand China and Chinese a bit more first before making such comments.

    • Beatle

      Jy
      Thanks for the clairifcation.
      dw

  • JY

    They have never set an announcement date in the first place, this title is misleading.

    Anyway, why everyone assume that Baidu will announce earnings on Jan 30th when there is no official source? Due to Chinese New Year holidays, and the facts that people take leaves to travel before Chinese New year especially for people from a huge country like China, plus New Year holiday, people only work for 2 weeks for January. It will be amazing if they choose to announce their earnings in January.

    You might ask why they managed to announce their earnings at the end of January last year, that is because the 1st day of chinese new year fell on Feb 3rd last year. In 2010 it was Feb 14th.

    In 2009, the 1st day of Chinese new year fell on Jan 26th, and Bidu announced their earnings on February 9th, 2009. So there is no need to panic, or relate it to “increasing regulatory risk”. Please try to understand China and Chinese a bit more first before making such comments.

    • Beatle

      Jy
      Thanks for the clairifcation.
      dw