TOKYO -- Chinese search engine giant Baidu reported better-than-expected second quarter earnings on Aug. 19, sending shares in the Nasdaq-listed company 8.4% higher in after-hours trading despite a 62% fall in profit.
The company said it managed to gain ground in video streaming despite stiff competition from short-video app TikTok, with revenue rising 1.4% to 26.3 billion yuan ($3.8 billion) for the three months ended June 30, surpassing analysts estimates of around 25.8 billion yuan.
