China's Baidu fourth-quarter revenue tops forecast, shares jump after hours

Reuters News
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Posted: Feb 26, 2014 4:57 PM

SAN FRANCISCO (Reuters) - Chinese Internet company Baidu Inc generated revenue of 9.52 billion yuan for the final three months of the year, as strong mobile revenues helped it exceed its own forecast.

Shares of Baidu jumped more than 8 percent in after hours trade on Wednesday to 187.50.

Baidu's 50.3 percent year-over-year revenue increase marked the fastest rate of growth in more than a year. The company had projected fourth-quarter revenue of 9.22 billion yuan to 9.48 billion yuan.

(Reporting by Alexei Oreskovic; Editing by David Gregorio)