Baidu Trades Higher On Q2 Earnings

Baidu Inc BIDU shares are up over 6% after reporting releasing second-quarter earnings.

Second-quarter earnings came in at $1.47 per share, which may not compare to the 89 cent estimate. GAAP EPS came in at 96 cents.

Sales came in at $3.84 billion, beating estimates by $80 million.

"Our focus on strengthening Baidu's mobile ecosystem through knowledge-based content, BJH accounts, smart mini programs and managed pages on Baidu's platform is translating into better user experience, stronger traffic growth, and, we believe, ultimately higher conversion for our customers. In June, Baidu App DAUs reached 188 million, up 27% year over year, in-app search queries grew over 20% year over year and smart mini program MAUs reached 270 million, up 49% sequentially," said Robin Li, Baidu co-founder and CEO.

Baidu shares traded higher by 7% to $111.70 in Monday's after-hours session. The stock closed the regular session higher by 7.7% at $104.22.

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