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BIDU / Baidu stock surges more than 7% after big profit beat, new $5 billion share repurchase program

Baidu stock surges more than 7% after big profit beat, new $5 billion share repurchase program
The U.S.-listed shares of Baidu Inc. BIDU, -0.63% shot up 7.4% in premarket trading Wednesday, after the China-based internet search and online marketing company reported a big fourth-quarter profit beat and announced a new $5 billion share repurchase program. Net income nearly tripled, to RMB4.95 billion ($718 million), or RMB13.59 per American depositary share (ADS), from RMB1.72 billion, or RMB4.51 per ADS, in the year-ago period. Read More
Posted: Feb 22 2023, 06:57
Author Name: Market Watch
Views: 110678

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