, Inc. (NASDAQ: BIDU) Jumps To Multi-Month Highs In After-Hours

Shares of, Inc. (ADR)  (NASDAQ:BIDU) are gaining in extended hours following a 5.80% jump in the regular session after the company reported about 80% jump in its profit helped by 85.10% increase in its revenue for the third quarter. The company also provided solid forecast for the current quarter., Inc.  reported that its net income during the quarter soared to 79.80% year-over-year to RMB1.882 billion ($295.0 million). On an adjusted basis, the company earned 86 cents a share, surpassing analysts’ estimates by 3 cents.

Revenue during latest quarter also grew 85.1% year-over-year RMB4.175 billion ($654.7 million) helped by rapid growth in customer spending and user traffic. Analysts were targeting revenue of $618.6 million.

Going forward, for the fourth quarter, the company projects to generate revenue within the range of RMB4.410 billion ($691.4 million) to RMB4.535 billion ($711.0 million), representing 79.9% to 85.0% year-over-year growth, beating analysts’ estimates of $647 million.

The company has beat analysts’ estimates for the fifth consecutive quarters.

Shares of BIDU added $11.81 or 8.53% to $150.16 in after-hours on high volume. The stock traded above $150 last in early August.


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