Baidu Shares Decline After Revenue Miss

Baidu Inc. shares fell under pressure in the extended session Wednesday after the Chinese Internet-search company fell short of Wall Street revenue estimates for the quarter. U.S. shares of Baidu declined 3.1% to $212.18 on heavy volume. The company reported adjusted first-quarter earnings of $1.22 a share on revenue of $2.05 billion, with $277.7 million in traffic acquisition costs. Analysts surveyed by FactSet had forecast $1.19 a share on revenue of $2.08 billion. The company forecast second-quarter revenue of $2.64 billion to $2.7 billion. Analysts estimate $2.67 billion.