Baidu Shares Fall On Earnings, Outlook Miss

By Wallace WitkowskiMarketWatch Pulse

U.S.-traded shares of Baidu Inc. fell in the extended session Monday after the Chinese web portal's quarterly earnings and outlook fell short of Wall Street expectations. Baidu U.S. shares fell 5.4% to $187 on moderate volume. Baidu reported adjusted second-quarter earnings of $1.81 a share on revenue of $2.67 billion. Analysts surveyed by FactSet had estimated $1.87 a share on revenue of $2.67 billion. Baidu also forecast revenue of $2.93 billion to $3 billion for the third quarter, while analysts expected $3.02 billion.

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