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Baidu Inc. (Nasdaq: BIDU) stock hit an all-time high of $237.55 this morning after yesterday's Q3 earnings report.
Baidu reported earnings per share (EPS) of $1.79 on revenue of $2.203 billion. Analysts expected EPS of $1.69 and revenue of $2.22 billion. On a non-GAAP basis, BIDU had EPS of $1.90.
Initially, BIDU stock dipped 2% in after-hours trading, likely due to the slight miss in total revenue. But the rest of the company's figures were actually quite strong.
BIDU's revenue was still up 52% year over year (YOY). Baidu's operating profit was also up 17.4% YOY.
Almost all the company's revenue comes from Baidu's online marketing, which was up 51.8% YOY to $2.188 billion.
Baidu officials posted strong guidance figures for Q4. They expect quarterly revenue to jump as much as 50% to about $2.3 billion.
While almost all of those numbers were strong, there's actually a more important statistic from the Baidu earnings report that many overlook.
In fact, this one number is the main reason BIDU stock hit another all-time high today. It's also the share price's biggest catalyst moving forward…