BEIJING (AP) _ Baidu Inc. (BIDU) on Thursday reported fourth-quarter profit of $911 million.
The Beijing-based company said it had profit of $2.62 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $3.81 per share.
The web search company posted revenue of $4.15 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $4.05 billion.
For the year, the company reported profit of $296 million, or 80 cents per share. Revenue was reported as $15.43 billion.
For the current quarter ending in April, Baidu Inc. said it expects revenue in the range of $3 billion to $3.3 billion. Analysts surveyed by Zacks had expected revenue of $3.91 billion.
Baidu Inc. shares have dropped 5% since the beginning of the year. The stock has declined 26% 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