On Friday, China’s Baidu Inc announced the delay of its fourth-quarter results and advised employees to work from home due to the recent coronavirus outbreak.
Baidu postponed the announcement to Feb 27th and said that this new date gives it more time to assess the condition of business for 2020s first quarter.
The coronavirus originated in Wuhan and spread across the world and prompted companies to shut shop and restrict travel. The virus has already claimed the lives of 200 people.
Baidu dominated China’s search engine market and expects fourth-quarter revenue of 28.3 billion yuan to 28.9 billion yuan. The previous forecast was 27.1 billion yuan to 28.7 billion yuan.
In extended trading, Baidu’s shares were up approximately 5%.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
