Baidu Inc. (ADR) (NASDAQ: BIDU) recently announced that it will now concentrate on its core search business. The company said that a major part of its future mobile Internet investment will be spent on the search segment. Baidu also said that its priorities include ecommerce and mobile Internet. The company is also looking to make a foray into business to consumer space. In 2009, the company increased its investment focus on mobile Internet. The company introduced mobile maps and Baidu text input method.
Baidu also started its new service for e-books, adding about 500 applications to its Web site. This initiative is the part of the company’s strategy to diversify beyond Internet search. The new initiative will allow the users to store and read electronic books on the Web site. Baidu now offers new gaming applications, including the ones from PopCap Games Inc., making Baidu one of the prominent Web sites in China, catering to more than 75% of China’s online searches.
Baidu is also planning to develop its “box computing” service. This service will link the provision of content including video game, entertainment and books. The company declined to share the new services’ contribution towards the company revenue. Baidu is also said to be in talks with several companies for the merger and acquisition purpose. Most of these companies are Chinese. The company also launched a new platform which will help developers in distributing their application. This distribution will be carried out via a browser.
Baidu’s ADRs have a 52-week price range of $81.62-$83.40. The ADRs are trading at P/E of 87.76 and its EV/Revenue is 32.67. Baidu’s market cap is $28.82 billion. The ADRs have a 50-day moving average of $80.26 and a 200-day moving average of $68.80. The company’s operating margin is 43.25% and its Price/Book ratio is 31.66. Baidu is earning 45.27% return on its equity and its operating margin is 43.25%. The company’s Book value per share is $2.59 and its current ratio is 3.78.
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