Baidu Earnings: BIDU Stock Falls despite Q4 Profit Beat
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Baidu (BIDU) shares fell over 3% in pre-market trading despite reporting Q4 adjusted earnings of ¥10.62 ($1.52) per American Depositary Share, exceeding the consensus estimate of ¥9.65. Quarterly revenue was ¥32.7 billion ($4.68 billion), aligning closely with expectations of ¥32.64 billion. The growth was mainly attributed to Baidu Core's AI-powered business. Baidu is a prominent Chinese technology firm focused on search, AI, and cloud services.
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