financetom
Business
financetom
/
Business
/
China's Baidu posts 3% fall in third-quarter revenue, beats market estimates
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China's Baidu posts 3% fall in third-quarter revenue, beats market estimates
Nov 21, 2024 6:23 PM

Nov 21 (Reuters) - Baidu ( BIDU ) reported a 3% fall in

third-quarter revenue on Thursday, beating market estimates, as

China's biggest internet search provider grappled with weak

spending on its advertising services in a sluggish economy.

Revenue reached 33.56 billion yuan ($4.64 billion) for the

three months ended Sept. 30. That compared with the 33.43

billion yuan average of 20 analysts' estimates compiled by LSEG.

Net income climbed 14% to 7.63 billion yuan versus a

consensus estimate of 4.67 billion yuan.

($1 = 7.2370 Chinese yuan renminbi)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
JPMorgan Acquires Stake in Sibanye Stillwater
JPMorgan Acquires Stake in Sibanye Stillwater
May 10, 2024
03:07 PM EDT, 05/10/2024 (MT Newswires) -- Sibanye Stillwater ( SBSW ) said Friday that JPMorgan Chase ( JPM ) acquired a 6.32% stake in the South African precious-metals company. Shares of Sibanye Stillwater ( SBSW ) rose 0.3% in recent trading Friday. Price: 5.07, Change: +0.01, Percent Change: +0.30 ...
Sector Update: Consumer
Sector Update: Consumer
May 10, 2024
03:20 PM EDT, 05/10/2024 (MT Newswires) -- Consumer stocks were mixed late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.5%. In corporate news, Sweetgreen ( SG ) shares surged 34% after the restaurant chain reported stronger-than-expected Q1 revenue late Thursday underpinned by comparable sales...
McDonald's Ready To Launch $5 Meal Deal: Everything You Need To Know
McDonald's Ready To Launch $5 Meal Deal: Everything You Need To Know
May 10, 2024
Fast food giant McDonald’s Corp. appears to be preparing the launch of a $5 meal deal as a value proposition to cash-squeezed customers despite its recent price increases. What Happened: McDonald’s shares rose on Friday following a report from Bloomberg signaling the company was eying a launch of a $5 meal deal, citing an anonymous source. The deal may include...
What's Going On With AMC Stock?
What's Going On With AMC Stock?
May 10, 2024
AMC Entertainment Holdings Inc ( AMC ) shares are trading lower by 4.3% to $2.93 during Friday’s session. The company on Wednesday reported first-quarter financial results. AMC Entertainment’s first-quarter revenue hit $951.4 million, narrowly down year-over-year but surpassing expectations. Despite a loss of 78 cents per share, slightly better than forecasted, CEO Adam Aron noted AMC’s outperformance in revenue, adjusted...
Copyright 2023-2026 - www.financetom.com All Rights Reserved