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Baidu Beats Estimates

But shares slip in after-hours trading.


(BIDU) - Get Report

beat analysts' third-quarter earnings as profit and revenue doubled from a year earlier.

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Net income rose 113% year over year to $24.2 million, or 70 cents a share. Excluding certain items, net income was 72 cents a share.

Revenue increased 108% to $66.3 million.

Analysts surveyed by Thomson Financial/First Call forecast earnings per share of 63 cents on revenue of $65.5 million.

"During the third quarter, we saw solid revenue and earnings growth driven by an increase in user traffic and active online customers," Baidu CEO Robin Li said in a press release.

Shares of Baidu slumped more than 5% in after-hours trading to $316.51.