Baidu U.S. Shares Decline After Earnings Report

Baidu Inc. U.S. shares declined in the extended session Wednesday after the Chinese search provider reported quarterly results. Baidu American depositary shares fell 3.5% to $216.76 on moderate volume. Baidu reported third-quarter earnings of $1.90 per ADS on revenue of $2.2 billion. Traffic acquisition costs were $283.8 million for the quarter. Analysts surveyed by FactSet had forecast earnings of $1.69 an ADS on revenue of $2.22 billion. Baidu also forecast fourth-quarter revenue of $2.26 billion to $2.32 billion. Analysts are looking for $2.29 billion.