Baidu Stock Surges After Profit Tops Estimates, $5 Billion Buyback

Baidu, often referred to as China’s Google, delivered a solid fourth-quarter update with a revenue beat and $5 billion share buyback program. The shares are surging.

The Chinese technology company (ticker: BIDU) reported adjusted earnings of $2.21 a share on revenue of $4.80 billion for the December quarter. Analysts had expected revenue of $4.70 billion, according to a FactSet poll.