Wednesday’s after-hours session was filled with plenty of buzz, most of it due to social media firm Facebook (FB). Mark Zuckerberg’s company reported an adjusted second-quarter profit of $488 million, or 19 cents per share, on revenue of $1.81 billion. Analysts were expecting EPS of 14 cents on revenue of $1.62 billion.

That sent the stock soaring almost 17%, but Facebook was not the only Internet company that surged Wednesday evening. Baidu (BIDU), often referred to as the Google (GOOG) of China, jumped 13.5% after the company said it ended the second quarter with $5.6 billion in cash and that third-quarter revenue would surge as much as 43%.

Those earnings reports could prove to be very good news for the PowerShares NASDAQ Internet Portfolio (PNQI) , an ETF that allocates a combined 12.4% of its weight to Facebook and Baidu. The stocks are PNQI’s third- and sixth-largest holdings, respectively. [Internet ETFs: Is The Dot-Com Bubble Back]

PNQI probably does not need the help, but investors will surely take it. The ETF is up 22% year-to-date, outpacing the Nasdaq Composite in the process as well as top-10 holding eBay (EBAY). [Soaring e-Commerce Sales Could Boost These ETFs]

However, Baidu and Facebook are not the only the stocks with the potential to contribute to significant upside for PNQI on Thursday. Online travel reviews firm TripAdvisor (TRIP) reported second-quarter GAAP EPS of 46 cents, five cents better than analysts expected. That sent the shares up 14.5% after-hours. TripAdvisor is PNQI’s tenth-largest holding.

As if Baidu, Facebook and TripAdvisor are not enough reasons for traders to have PNQI on their Thursday radar screens, Amazon.com (AMZN) reports earnings after the close. Amazon is PNQI’s largest holding with a weight of almost 8.4%. Combined, Amazon, Baidu, Facebook and TripAdvisor are about 23.1% of the ETF’s weight.

PNQI, which is five years old and home to 81 stocks, has $85.6 million in assets under management. The ETF’s annual expense ratio is 0.6%.

PowerShares NASDAQ Internet Portfolio

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Amazon and Facebook.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.