Why Baidu Stock Wilted on Wednesday

Veteran Chinese tech giant Baidu (NASDAQ: BIDU) looked rather tired to equity investors on Wednesday. They didn't seem wowed by the company's latest earnings release and expressed this by collectively trading their American depositary shares (ADS) down by almost 3%. This was a steeper fall than the 0.2% endured by the bellwether S&P 500 index.Baidu's second-quarter results, published well before market open that day, revealed that the company's revenue slumped by 4% year over year to 32.7 billion yuan ($4.55 billion). That was slightly below the consensus analyst estimate of 32.9 billion yuan ($4.58 billion). Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool