Baidu Inc.: 2Q Earnings Snapshot

Associated Press
Updated

BEIJING (AP) _ Baidu Inc. (BIDU) on Monday reported second-quarter earnings of $351 million.

On a per-share basis, the Beijing-based company said it had profit of 96 cents. Earnings, adjusted for one-time gains and costs, were $1.47 per share.

The web search company posted revenue of $3.84 billion in the period.

For the current quarter ending in October, Baidu Inc. said it expects revenue in the range of $3.84 billion to $4.07 billion. Analysts surveyed by Zacks had expected revenue of $4.12 billion.

Baidu Inc. shares have dropped 34% since the beginning of the year. In the final minutes of trading on Monday, shares hit $104.22, a decrease of 53% in the last 12 months.

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