IQ - 5 Biggest Takeaways From Baidu's Q3 Earnings Report
Baidu (NASDAQ: BIDU) was once one of the most widely followed and successful Chinese stocks before the company was hit by a combination of increasing competition and a lackluster economy on its home turf. Those problems exacted a heavy toll on Baidu, resulting in slowing revenue growth and the company's first loss since going public in the U.S. in 2005.
The Chinese search leader appeared to turn the corner last quarter, giving shareholders hope that the worst was behind them. Expectations were muted going into Baidu's third-quarter financial report Wednesday night, but as evidence of a rebound mounted, investors cheered, driving the stock up as much as 6% in pre-market trading Thursday morning.
Let's take a look at a few of the biggest takeaways from Baidu's earnings report.