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Baidu Posts Surprise Sales Gain as Investors Eye Turnaround

  • Baidu beat on the top line but swallows big loss on investment
  • Investors looking for clues on when to get back into Tech Inc.
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Baidu Inc. posted a surprise gain in revenue after cost cuts helped prop up the bottom line and online advertising held up better than anticipated against China’s economic downturn.

Sales rose slightly to 32.5 billion yuan ($4.6 billion) in the September quarter, beating expectations for 31.8 billion yuan. The company posted a net loss of 146 million yuan in the quarter just ended after taking a fair value loss several times that amount on its investments. But adjusted profit, which strips out exceptional items, managed to beat Wall Street’s projections.