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

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