Baidu's (NASDAQ: BIDU) stock price declined by nearly 7% on Tuesday following the release of its second-quarter earnings report. The Chinese tech giant's revenue fell by 5% year over year to 29.65 billion yuan, or $4.43 billion, but still exceeded analysts' expectations by $230 million.
Its adjusted net income rose 3% to 5.54 billion yuan ($827 million), or $2.36 per American depositary share, which also topped the consensus forecast by $0.79 per share. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) slipped by 3% to $7.05 billion ($1.05 billion), but its adjusted EBITDA margin expanded both sequentially and year over year to 24%.
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Source Fool.com