Baidu Inc ADR Class A BIDU shares were trading higher by 3% in Tuesday's pre-market session after the company reported better-than-expected first-quarter EPS and sales results.
Baidu's earnings per share increased 51% over the past year to $1.89, which beat the analyst consensus estimate of $1.66. Baidu also reported revenue of $4.29 billion by 34.86% which beat the analyst consensus estimate of $4.22 billion.
Baidu is the largest Internet search engine in China with a 75% share of the search engine market in March 2021. The firm generated 68% of revenue from online marketing services and the rest from other segments in 2020. Baidu is a technology-driven company and has been investing in AI technology, such as autonomously driven cars.
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