BEIJING (AP) — BEIJING (AP) — Baidu Inc. (BIDU) on Wednesday reported fourth-quarter profit of $718 million.
The Beijing-based company said it had net income of $1.97 per share. Earnings, adjusted for one-time gains and costs, came to $2.21 per share.
The web search company posted revenue of $4.8 billion in the period.
For the year, the company reported profit of $1.1 billion, or $2.88 per share. Revenue was reported as $17.93 billion.
Baidu Inc. shares have increased 23% since the beginning of the year. The stock has declined 11% in the last 12 months.
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