Baidu: Still Spending And Still Cheap
Baidu easily surpassed Q1 estimates as the Chinese Internet search giant grew revenues over 30%.
The company continues heavily spending on Transaction Services and video content.
The stock remains an incredible value in comparison to other Internet giants even despite the heavy spending that holds back profit growth.
Despite some better views of the Chinese economy and solid results from Baidu (NASDAQ:BIDU), the stock hasn't made a lot of traction since the release of Q4 results at the end of February. Ending last week below $200, the stock still trades far below the levels reached all the way in early 2014.
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Disclosure: Long BIDU. Please read the disclaimer page for more details.