After reporting about Baidu’s legal challenges, it appears things aren’t getting any better for China’s leading search engine. Despite the launch of a new search product, earnings estimates for Baidu continue to plummet.
According to Tech Trader Daily, a pair of analysts have cut Baidu’s earnings forecast. Dick Wei from J.P. Morgan has cut his estimate by 5% for 2008 and by 19% for 2009 due to the reduced income Baidu can expect from not accepting income to improve organic rankings. He does, however, predict that Baidu will retain its market leadership. A slow customer growth in Q4 and state of the economy has caused Pacific Crest’s Steve Weinstein to lower his forecasts as well.
Despite this their forecasts, Baidu’s stock closed at $111.30 today – up 6.47%. But I wouldn’t recommend investing anytime soon.
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9 comments on “Baidu Continues Downward Spiral”
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Blog Expert Says:
December 11th, 2008 at 6:29 pm
No surprise here. You could see that they would continue the downward spiral. It just seems like there’s nothing that really can do to stop it now.
Blog Expert’s last blog post..Digg Headlines That Work
xie mo Says:
December 12th, 2008 at 1:53 am
We know that the Internet has become the enterprises to promote products, increase the visibility of the necessary means to their business information in BtoB’s Web site to log into a lot of business after the Internet will do; At the same time, relatively well-known site in order to enrich their own Data resources, has been the find this kind of enterprise customer base continued to increase their visibility.
xie mo Says:
December 12th, 2008 at 2:07 am
We know that the Internet has become the enterprises to promote products, increase the visibility of the necessary means to their business information in BtoB’s Web site to log into a lot of business after the Internet will do; At the same time, relatively well-known site in order to enrich their own Data resources, has been the find this kind of enterprise customer base continued to increase their visibility. 5
George Nobles Says:
December 12th, 2008 at 5:02 am
I not surprice because they are using very normal functions.
Chris Says:
December 12th, 2008 at 5:24 am
China has it’s own search engine? I thought google was top EVERYWHERE… hmm.
» Weekend Wrap-up, search engine news of the week (Dec 14) Says:
December 14th, 2008 at 8:32 am
[...] Baidu Continues Downward Spiral [...]
Abdul Says:
December 15th, 2008 at 9:52 am
Huh, Baidu sickens me, it would be probably my last choice of investment!
Abdul’s last blog post..Whos.Amung.Us taking Web Stats to a Whole New Level
hu jia yu Says:
December 19th, 2008 at 10:30 am
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AIDS Drugs Says:
December 21st, 2008 at 3:36 pm
As long as it continues to maintain its market share I think there is still a chance for recovery.