BEIJING (AP) _ Baidu Inc. (BIDU) on Thursday reported second-quarter net income of $507 million.

On a per-share basis, the Beijing-based company said it had net income of $1.46. Earnings, adjusted for one-time gains and costs, were $2.08 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The web search company posted revenue of $3.69 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.66 billion.

For the current quarter ending in October, Baidu Inc. said it expects revenue in the range of $3.7 billion to $4.1 billion. Analysts surveyed by Zacks had expected revenue of $3.96 billion.

Baidu Inc. shares have decreased slightly more than 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $124.57, a climb of 28% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BIDU at https://www.zacks.com/ap/BIDU

Automated Insights, source Associated Press News