October 28, 2011 (Chinavestor) China's largest internet company, Baidu.com Inc. (NASDAQ:BIDU) reported blockbuster numbers for the third quarter after the closing bell on Thursday. The numbers don't need commentary: revenues surged 85.1% to $654.7 million while net income topped $295 million, an increase of 79.8% year-over-year. On top of this, the company issued fourth quarter guidance above analyst estimates. No wonder the stock is on fire.
Another aspect of Baidu's earnings are its dynamics. Baidu.com Inc. (NASDAQ:BIDU) is not showing signs of slow down in revenue and earnings growth, as the following chart testifies. Considering that Google Inc. (NASDAQ:GOOG) booked in revenues of $9,7 billion for the last quarter, Baidu.com Inc. (NASDAQ:BIDU) has plenty of room left for growth!
Also, Baidu.com Inc. (NASDAQ:BIDU) has virtually no debt! Take a look at the following total assets/ total debt chart.
Cash position of Baidu.com Inc. (NASDAQ:BIDU) is just as strong. While the company did not provide a detailed quarterly cash flow breakdown, one thing is certain. The company made a lot more cash from operation in 2011 already than in all of 2010. 2011 has an * because it represents first three quarters only.
What do these numbers mean to the rest of the sector? An excellent head-start. But investors don't have to wait much for additional insight. Sohu.com Inc. (NASDAQ:SOPHU) will report financials next Monday, before the open. That will come together with earnings from Changyou.com Ltd. (NASDAQ:CYOU). NetEase.com Inc. (NASDAQ:NTES) and 51job Inc. (NASDAQ:JOBS) will come next in the middle of the month. Sina Corp. (NASDAQ:SINA), another internet heavy weight is due in the second part of November.