Baidu Beats on Q4 Revenue and Earnings

Shares of Chinese search engine powerhouse Baidu (NASDAQ: BIDU) traded down by nearly 3.5% on Thursday despite an encouraging fourth-quarter earnings release.

For the quarter, the company earned 30.26 billion yuan ($4.67 billion), which was 5% higher than the Q4 2019 tally. Non-GAAP (adjusted) net income, on the other hand, declined 25% to 1.05 billion yuan ($162 million), or $3.08 per American Depositary Share (ADS) of Baidu.

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Source Fool.com