NEW YORK (TheStreet) -- Baidu (BIDU) - Get Report stock is up by 5.63% to $178.50 in pre-market trading on Friday, after the company reported financial results for the 2015 third quarter on Thursday evening.
The Chinese-language Internet search provider reported earnings of $1.43 per ADS, down from $1.90 per ADS for the third quarter of 2014.
Revenue increased by 36% year over year, to $2.9 billion from $2.2 billion in the 2014 third quarter.
Analysts had forecast for earnings of $1.13 per share on revenue of $2.89 billion.
Baidu announced a repurchase for as much as $2 billion of its shares throughout the next two years.
"With mobile accounting for nearly two-thirds of Baidu's search traffic and China squarely in a mobile age, Baidu is pioneering and redefining the mobile experience for users in China. We further extended the reach of our platform by deeply integrating and connecting search and maps with transaction services," CEO Robin Li said in a statement.
Separately, TheStreet Ratings team rates BAIDU INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
We rate BAIDU INC (BIDU) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
You can view the full analysis from the report here: BIDU