By Russell Flannery, Forbes Staff
Baidu, China’s largest search engine, said today net profit in the second-quarter fell 4.5% from a year earlier to $431 million amid higher costs and taxes. Shares in U.S. aftermarket trading rose by 12%, however, on gains in its mobile business and the outlook for the third quarter. …read more
Source: FULL ARTICLE at Forbes Latest
By Russell Flannery, Forbes Staff Baidu, China’s biggest search engine, said today it has signed a memorandum of understanding to acquire 100% of mobile app distribution company 91 Wireless Websoft. …read more
Source: FULL ARTICLE at Forbes Latest
Baidu shares are seeing some selling pressure Tuesday morning from a bearish note today from Goldman Sachs analyst Piyush Mubayi, who sees risks to Baidu’s leading position in China‘s ad marketing due to both mobile cannibalization and new competition. …read more
Source: FULL ARTICLE at Forbes Latest
By Eric Savitz, Forbes Staff Baidu shares are trading sharply lower Tuesday morning following the company’s Q4 financial results, as analysts at both Raymond James and Stifel Nicolaus reduced ratings on the China-based Internet search company. While results and guidance were largely in line, there are new concerns this morning about the company’s margin performance.
Source: FULL ARTICLE at Forbes Latest
