Chinese internet giant Baidu Inc (NASDAQ:BIDU) found the market hard to please on Friday, as it unveiled third quarter results.
There was not much wrong with the results themselves; the company, which is focused on harvesting income from internet searches, saw net income rise 29% to US$1.2bn.
Adjusted earnings per share came in at US$3.89, almost double the US$1.96 analysts had been predicting.
While the picture in the rear-view mirror was fine, the road ahead looks less bright than it has done.
The company expects revenue of between US$3.34bn and US$3.52bn in the fourth quarter, some way below the current consensus forecast on Wall Street of US$3.76bn.
Baidu shares fell 8% to US$239.37.