Baidu's revenues up 5% to $4.6 billion in Q4

Wednesday, 17. February 2021 22:32

Baidu, Inc. announced on Wednesday that its total revenues for the fourth quarter of fiscal 2020 amounted to $4.6 billion, increasing 5% compared to the same period last year.

The Chinese tech company's diluted earnings per share fell 18% year on year to $2.31 and net income in the three-month period stood at $794 million. For full fiscal 2020, Baidu's revenues were $16.4 billion and net income skyrocketed 992% year on year to $3.4 billion, or $9.96 per share.

"Baidu ended 2020 on a solid note with our business benefiting from improving macroeconomic environment and the digitalization of industrial Internet. Our focus on innovation through technology is paying off with Baidu Core non-marketing revenue growing 52% year over year in the fourth quarter," CEO Robin Li stated.

Baidu shares climbed 2.86% in after-hours trading.

Related Links: Baidu Inc.
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