China's Baidu outpaces Street targets as mobile revenue surges
SAN FRANCISCO (Reuters) - Baidu Inc, China’s biggest Internet search company, blew away Wall Street's targets with a 34.1 percent jump in quarterly net profit, helped by a surge in mobile revenue.
It shares climbed 7.3 percent in after hours trading to $219.20, from a close of $204.27 on the Nasdaq.
Net income attributable to shareholders rose to 3.55 billion yuan (336.5 million pounds) in the three months ending June, beating analyst estimates of 2.82 billion yuan, according to Thomson Reuters SmartEstimate.
(Reporting by Edwin Chan; Editing by David Gregorio)
