Baidu Gains on Latest Financial Results
Stock up 5% in after-hours trading as revenue tops estimates.
American depositary receipts of Baidu (BIDU) - Get Report rose in after-hours trading Wednesday after the company posted better-than-expected revenue for the third quarter.
Baidu said it took in 28,203 yuan, or $3.93 billion in the just completed period. Analysts surveyed by FactSet had been expecting $3.9 billion.
The company forecast fourth-quarter revenue of between $3.78 billion and $4.02 billion.
Analysts are currently forecasting $3.9 billion.
Shares rose $5.68, or 5.3%, to $113.04.
