Baidu Inc Shares Surge As Results Beat Estimates

Baidu Inc unveiled better-than-anticipated fourth quarter results, as China’s long-dominant Internet search firm’s investments in mobile begin to yield results and attract advertising. Resonating the performance, Baidu’s shares surged by as much as 14% in U.S. after-hours trade. Its shares were up 9.37% at $172.95 in New York at the time of writing. Baidu’s sales beat analysts’ estimates The Beijing-based company’s sales rose 33% to 18.7 billion yuan ($2.9 billion) in the December quarter from a year earlier. On average, analysts had anticipated 18.5 billion yuan in sales, according to data compiled by Bloomberg. Baidu had anticipated revenue of 18.2 billion to…