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Baidu Beats Estimates on Cost Cuts Amid First Revenue Slide

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Baidu's 3rd-Qtr Profit Beats Estimates

Bloomberg News
Updated on

Baidu Inc. earnings beat analysts’ estimates as the Chinese search giant pares spending to limit the impact of its first-ever decline in quarterly revenue.

Profit excluding some costs were $1.49 per American depository share in the third quarter, compared with the average estimate for $1.08. Revenue fell year-on-year for the first time, dropping to 18.3 billion yuan ($2.7 billion).