Baidu Stock Slumps Amid Caution On Beijing Crackdown Hit to Ad Spend


Source: thestreet.com thestreet.com

Key Topics in this News Article:

News Snapshot:

Baidu Inc.'s ( BIDU ) - Get Baidu, Inc. Sponsored ADR Class A Report U.S.-listed shares slumped lower Wednesday after the China-based tech giant cautioned on slowing ad sales amid Beijing's broader crackdown on corporate profits and business practices. Baidu, often referred to as the Google ( GOOGL ) - Get Alphabet Inc. Class A Report of China, posted third quarter earnings of 14.66 Chinese yuan per share, with revenues rising 13% from last year to $31.9 billion yuan ($5 billion). Looking into the final months of the year, which will include sales from the early November 'Singles' Day' shopping...