Baidu to pacify investors with $1b share buyback

The Nasdaq-listed search group will embark on a $1b share buyback to assuage investors after $12b was wiped off its market value on disappointing quarterly earnings.

Baidu, China’s dominant internet search company, announced on Thursday a $1 billion share buyback programme to pacify investors after $12 billion was wiped off its market value on disappointing second-quarter earnings.

¬ Haymarket Media Limited. All rights reserved.

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