‘China’s Baidu Outpaces Street Targets as Mobile Revenue Surges’ – Re/code
Re/Code team says, “Baidu, China’s biggest Internet search company, blew past Wall Street’s targets with a 34.1 percent jump in quarterly net profit, helped by a surge in mobile revenue.
It shares climbed 7.3 percent in after-hours trading to $219.20, from a close of $204.27 on the Nasdaq.
On Thursday, the company often likened to a Chinese Google said it now gets 30 percent of its revenue from mobile services, up from around 20 percent in previous quarters, as online advertisers migrate to mobile devices.
Net income attributable to shareholders rose to 3.55 billion yuan ($571.7 million) in the three months ending June from 2.64 billion yuan a year ago”.
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