Shares of Baidu (NASDAQ: BIDU) have popped today, up by 12% as of 11:30 a.m. EST, after the Chinese search specialist reported third-quarter earnings. The results topped Wall Street's forecasts.
Revenue in the third quarter came in at 28.1 billion yuan ($3.93 billion), ahead of the 27.5 billion yuan that analysts were expecting. That all translated into adjusted earnings per American depositary share (ADS) of $1.76, crushing the consensus estimate of $1.16 per ADS in adjusted profits. Adjusted operating income was $516 million, and Baidu's adjusted operating margin expanded on a sequential basis.
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Source Fool.com