Baidu tops estimates as it says online marketing business recovers


Baidu BIDU, -1.47% 9888, -2.02%, the Chinese internet giant, said a gradual recovery of its online marketing business and the steady growth of cloud revenue helped it post stronger-than-forecast revenue. Baidu lost 12 cents per U.S. share during the quarter. Baidu said its adjusted earnings per U.S.-listed share, which exclude items including the fair value loss and impairments of long-term investments and stock-based compensation, rose to $2.37 on revenue of $4.57 billion. Analysts polled by FactSet expected earnings of $2.15 a share on sales of $4.44 billion.

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