Baidu (NASDAQ:BIDU) had a positive quarter to report on that saw the company bring in strong earnings and revenue figures that topped the Wall Street guidance, playing a role in pushing BIDU stock up close to 3% late on Thursday.
The Chinese company said that for its fourth quarter of its fiscal 2018, it was able to top analysts’ expectations as it amassed earnings of $1.92 per share. The figure was an improvement over the $1.79 per share that the Wall Street consensus estimate was calling for.
Baidu added that its revenue for the period rallied up to $3.96 billion, also coming in ahead of the $3.88 billion that analysts were calling for. The company added that its 2018 marked a 28% increase over its sales for its fiscal 2017, according to CEO Robin Li.
“The growth rate of Baidu App DAUs has been accelerating over the past year, up 24% year over year to 161 million in December 2018, while Haokan short video app grew to 19 million DAUs from 1 million a year ago,” he added.
The search engine business added that it completed roughly $1.25 billion in bond offerings during its fourth quarter, including about $850 million of 4.375% notes due in 2024 and $400 million of 4.875% notes due in 2028. These proceeds will help to repay current indebtedness.
BIDU stock was up about 2.8% after the bell on Thursday following a strong quarterly posting. Shares had been moving slightly upwards during regular trading hours as well, edging 0.4%.