BEIJING (AP) _ Baidu Inc. (BIDU) on Wednesday reported a third-quarter loss of $892 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Beijing-based company said it had a loss of $2.57. Earnings, adjusted for non-recurring costs and stock option expense, were $1.76 per share.
The web search company posted revenue of $3.93 billion in the period.
For the current quarter ending in December, Baidu Inc. said it expects revenue in the range of $3.78 billion to $4.02 billion. Analysts surveyed by Zacks had expected revenue of $3.91 billion.
Baidu Inc. shares have decreased 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $107.36, a drop of 44% in the last 12 months.