BEIJING (AP) _ Baidu Inc. (BIDU) on Tuesday reported first-quarter net income of $3.92 billion.

On a per-share basis, the Beijing-based company said it had net income of $11.26. Earnings, adjusted for one-time gains and costs, were $1.89 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.

The web search company posted revenue of $4.29 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $4.16 billion.

For the current quarter ending in July, Baidu Inc. said it expects revenue in the range of $4.5 billion to $5 billion. Analysts surveyed by Zacks had expected revenue of $4.62 billion.

Baidu Inc. shares have decreased 13% since the beginning of the year. The stock has risen 89% 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

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