0854 GMT - Baidu Inc. is one of the most mentioned companies in the news over the past 12 hours, according to Factiva data, after delivering better-than-expected third-quarter earnings. The search-engine giant and AI company Tuesday posted a sharply narrowed quarterly loss and higher revenue, citing improved operational efficiency and cost cuts. Sentiment toward the company was likely also boosted by comments from Baidu's executive vice president, Dou Shen, who said on an earnings call with analysts that he expects the company will only bear a slight, short-term impact from U.S. restrictions on advanced semiconductor exports. Mr. Shen said a big part of Baidu's AI and cloud-computing businesses don't rely heavily on advanced chips and that it has enough of them stocked up. Baidu's Hong Kong-listed shares finished 3.4% higher at HK$92.95 on Wednesday. Dow Jones & Co. owns Factiva.according to Factiva data. (fabiana.negrinochoa@wsj.com)


(END) Dow Jones Newswires

11-23-22 0409ET