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17.05.2019 00:27:30 - dpa-AFX: Baidu Authorizes $1 Bln Share Buyback Program

BEIJING (dpa-AFX) - Baidu, Inc. (BIDU), the leading Chinese Internet search
giant, Thursday said its board of directors authorized a new share repurchase
program of up to $1 billion of its shares, effective until July 1, 2020.

The company also reported first-quarter loss of RMB327 million or RMB0.98 per
ADS, compared with last year's profit of RMB6694 million or RMB18.68 per ADS.

Excluding items, reported adjusted earnings of RMB967 million or
RMB2.77 per share for the period.

Revenues for the quarter rose 15% to RMB24.12 billion from RMB20.91 billion in
the same period last year.

'Baidu's mobile foundation continues to strengthen with search-powered AI, and
our new AI businesses are making strong progress. In March, Baidu's mobile reach
expanded to 1.1 billion monthly active devices, while DuerOS voice assistant
installed base reached 275 million devices and generated 2.37 billion monthly
voice queries. We are leveraging Baidu AI to provide enterprise solutions to
businesses and local governments, which significantly expands our total
addressable market,' said CEO Robin Li.

Copyright RTT News/dpa-AFX

  Name WKN Börse Kurs Whrg. Zeit Diff. Diff. % Stück Umsatz
Kursdetails anzeigen BAIDU INC.A ADR D... - Frankfurt 99,50 EUR 14.06. / 17:02 -1,50 -1,49% 1,17 Tsd. 0
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