Baidu Stocks Surged by 4%, Helping Beating Expectations

Baidu Stocks Surged by 4%, Helping Beating Expectations
Baidu Stocks Surged by 4%, Helping Beating Expectations

The stocks of the Chinese giant of internet networks, Baidu has jumped by 4% during an after-hour trade and this has made the company expect better results in the third quarter. However, in the previous quarter’s result, Baidu had a revenue collection of 28.08 billion yuan or $3.93 billion according to the earnings release exchange rate. This data was quite flat year-on-year. In terms of earnings, per share was sold for 12.61 yuan; which bet the market expectations but it was representing a dip of 34% on a year-on-year basis. Analysts that time had expected revenue of 27.49 billion yuan which was shared over the earnings of7.88 yuan per share. This year, shares of Baidu dipped by 32% due to the Chinese economic slowdown and US-China trade war and increased competitors. However, it found new ways of revenues by expanding into areas like driverless cars, artificial intelligence, and streaming.

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