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BEIJING (AP) - Shares of Baidu.com Inc. plunged Thursday after the Internet company posted quarterly earnings that beat analysts' expectations but still disappointed investors who had bet on even faster growth for the biggest online portal in the booming Chinese market.
The company reported earnings of 8.5 million yuan ($1.06 million) during the quarter ending Sept. 30 — nearly triple the net income of 2.9 million yuan from the same period a year ago.
Baidu said that if not for stock compensation expenses, it would have earned 19.3 million yuan ($2.4 million), or 0.59 yuan (7 cents) per share. That was a penny above the consensus estimate among analysts polled by Thomson Financial.
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