Baidu Q3 Revenues Surge; Profit Inches Up
Baidu made investors happy with positive Q3 results. For the quarter, total revenues were 8.89 billion yuan ($1.45 billion), a 42% jump over the 6.25 billion yuan ($1.02 billion) in the same period the previous year. Attributable net income was 3.05 billion ($498 million, or $1.41 per diluted American depositary share), or 1% higher than Q3 2012's 3.01 billion ($491 million; $1.40).
Analysts had been expecting revenue of 8.79 billion yuan ($3.23 billion) and a net profit of $1.42 per ADS.
The company provided forward revenue guidance for its current Q4. Top line for the period is anticipated to be 9.22 billion to 9.48 billion yuan ($1.51 billion to $1.55 billion).
Following the announcement of the results, Baidu's ADSes advanced by 5.6%, or $8.84, to $168.25 in after-hours trading.
The article Baidu Q3 Revenues Surge; Profit Inches Up originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Baidu. The Motley Fool recommends and owns shares of Baidu. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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