Why Baidu's Stock Rose 16.4% in November
Shares of Baidu (NASDAQ: BIDU) gained 16.4% in November 2019, according to data from S&P Global Market Intelligence. The Chinese search engine giant sparked that surge with a solid third-quarter earnings report, which lifted its share prices by 12% in a single day.
In the third quarter, Baidu's earnings fell 35% year over year, landing at $1.79 per diluted share. Revenue declined by 4.4% to $3.93 billion. But your average analyst had expected even deeper drops, to the tune of earnings near $1.11 per share on approximately $3.88 billion in top-line sales.
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Source Fool.com
