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Baidu Inc.: 3Q Earnings Snapshot

November 6, 2019 GMT

BEIJING (AP) _ Baidu Inc. (BIDU) on Wednesday reported a third-quarter loss of $892 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Beijing-based company said it had a loss of $2.57. Earnings, adjusted for non-recurring costs and stock option expense, were $1.76 per share.

The web search company posted revenue of $3.93 billion in the period.

For the current quarter ending in December, Baidu Inc. said it expects revenue in the range of $3.78 billion to $4.02 billion. Analysts surveyed by Zacks had expected revenue of $3.91 billion.

Baidu Inc. shares have decreased 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $107.36, a drop of 44% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BIDU at https://www.zacks.com/ap/BIDU