Baidu Stock Hits New Highs After Earnings

Shares of Baidu (NASDAQ: BIDU) hit fresh 52-week highs in intraday trading on Thursday, only to blast through to new heights in after-hours action after delivering another round of blowout financial results. China's leading search engine is clocking in with revenue of $3.079 billion for the first quarter, 14.3% ahead of where it was a year earlier.

Baidu's top-line growth is in line with the 12% to 15% gain that it was forecasting three months ago. This may be a far cry from Baidu's historically heady growth, but it's the first time in a year that the dot-com darling cranked out double-digit revenue growth.

Image source: Baidu.

Source: Fool.com