Baidu posts Q3 revenue at $4.16B, up 1% YoY

Monday, 16. November 2020 22:38

Baidu, Inc. announced on Monday that its revenues for the third quarter of fiscal 2020 landed at $4.16 billion, increasing 1% comapred to the same period last year. The Chinese firm's operating income surged 161% year-over-year to $907 million in the same trimester, while net income landed at $2.01 billion, jumping from net loss of $968 million in the third quarter of 2019.

Diluted earnings per share stood at $5.86, soaring from diluted loss per share of $2.79 recored in the same three-month span last year. Meanwhile, Baidu App's daily active users reached 206 million and its monthly active users rose to 544 million in the quarter ending September.

"Our revenue growth turned positive in the third quarter with many advertising verticals turning around, putting Baidu in a good position to further benefit from a recovery in the Chinese economy. The vibrant mobile ecosystem that Baidu has built in the last few years sets a strong foundation for us to grow our non-advertising business," the company's CEO Robin Li said in a statement.

Baidu's shares climbed 0.6% in after-hours trading following the announcement.

Related Links: Baidu Inc.
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Breaking the News / GA