BEIJING (dpa-AFX) - Chinese Internet giant Baidu, Inc. (BIDU) reported net income for the second quarter of RMB3.66 billion or RMB10.19 per ADS, compared to RMB3.55 billion or RMB10.09 per ADS for the year-ago quarter.
Excluding share-based compensation expenses, adjusted net income for the latest quarter was RMB4.02 billion or RMB11.19 per share.
Total revenue for the second quarter rose 38.3% to RMB16.58 billion from RMB11.99 billion a year ago.
Analysts polled by Thomson Reuters expected the company to earn RMB10.58 per share on revenue of RMB16.57 billion for the second quarter. Analysts' estimates typically exclude special items.
Looking forward, the company forecasts third quarter revenue of RMB18.170 billion to RMB18.580 billion, representing a 34.4% to 37.4% year-over-year increase. Analysts currently expect the company to post revenue of RMB18.79 billion for the third quarter.
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