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China’s Baidu Q4 revenue tops forecast, shares jump after hours

27
Feb
2014

By Alexei Oreskovic SAN FRANCISCO (Reuters) – Chinese Internet company Baidu Inc finished 2013 with its fastest revenue growth in more than a year and forecast revenue for the first quarter that beat Wall Street targets thanks to strength in its mobile business. Shares of Baidu, the largest Internet search engine in China, jumped more than 6 percent in after-hours trade on Wednesday to $184.10. Baidu projected that revenue in the first quarter will range between 9.240 billion yuan ($1.526 billion) and 9.520 billion yuan ($1.573 billion). Analysts polled by Thomson Reuters I/B/E/S were looking for first-quarter revenue of 8.697 billion yuan.

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