Baidu Issues Q4 Revenue Guidance

(RTTNews) - Baidu, Inc. (BIDU) announced the company currently expects to generate total revenues in an amount ranging from $2.675 billion to $2.756 billion for the fourth quarter of 2016, representing a 4.6% to 1.7% year-over-year decrease. On an apples-to-apples basis, excluding Qunar from Baidu's financials, the guidance represents a decrease of 2.0% to an increase of 0.9%, year-over-year.

Baidu reported total revenues of $2.737 billion for the third quarter of 2016, representing a 0.7% decrease from the corresponding period in 2015. Mobile revenue represented 64% of total revenues for the third quarter of 2016, compared to 54% for the corresponding period in 2015.