Baidu, Inc. (NASDAQ: BIDU) on Wednesday reported higher revenues for the fourth quarter. Shares of the tech firm gained during the extended trading session immediately after the announcement.
Revenues of the China-based online search company advanced 5% annually to RMB30.2 billion ($4.64 billion) during the December-quarter, supported by strong contributions from both the business segments.
At the end of the quarter, the Baidu app had 544 million monthly active users.
Meanwhile, adjusted earnings dropped to RMB20.08 per ADS ($3.08 per ADS) from RMB26.54 per ADS last year. On an unadjusted basis, net profit was RMB5.17 billion ($794 million) or RMB15.05 per ADS ($2.31 per ADS), compared to RMB18.25 per ADS in the fourth quarter of 2019.
Read management/analysts’ comments on Baidu’s Q4 2020 results
Baidu’s stock, which has gained 42% since the beginning of the year, closed Wednesday’s regular session lower but gained during the extended session soon after the earnings release.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
Target (TGT): A look at some of the challenges faced by the retailer in 3Q24
Shares of Target Corporation (NYSE: TGT) stayed green on Thursday, recovering from the stumble it took a day ago after delivering disappointing results for the third quarter of 2024 and
