Why Baidu Stock Gained 10% Today

Shares of Chinese search provider Baidu (NASDAQ: BIDU) surged on Friday following the company's second-quarter report. Baidu reported double-digit revenue growth and beat analyst expectations for earnings, prompting an analyst upgrade and a 9.5% jump in the stock price.

Baidu reported second-quarter revenue of $3.08 billion, up 14.3% year over year. Online marketing revenue accounted for the bulk of total revenue, coming in at $2.64 billion and growing by 5.6% year over year. Other services accounted for the rest of the company's revenue, growing by 125% year over year.

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Source: Fool.com