Baidu posted upbeat fourth-quarter earnings results this week, briefly sending shares of the company up 7% in pre-market trading on Thursday.The search engine giant delivered higher-than-expected revenue for the last three months of 2022. Baidu notched $4.8 billion in revenue, versus analysts' estimates of $4.7 billion, according to FactSet. Additionally, Baidu's quarterly adjusted net profit surged 32% from the same period last year at $779 million.
Goldman Sachs gave Baidu a buy rating in a Tuesday note to clients, though it noted risks ahead for the company. The company's board of directors authorized a new $5 billion share buyback program, through the end of 2025.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market outlook: Powell doesn't need to crush stocks to fight inflationHistory shows stocks have done well even under the most hawkish Fed, and Powell doesn't need to crush the market to fight inflation, Fundstrat says When was he right?
Source: BusinessInsider - 🏆 729. / 51 Read more »