Baidu (BIDU) PT Raised to $185 at Benchmark

Baidu to Acquire JOYY’s Live Streaming Business in China

November 16, 2020 5:15 PM EST

GUANGZHOU, China, Nov. 17, 2020 (GLOBE NEWSWIRE) -- JOYY Inc. (Nasdaq: YY) (JOYY or the Company), a global video-based social media platform, today announced that the Company entered into definitive agreements with Baidu, Inc. (Nasdaq: BIDU) (Baidu). Pursuant to the agreements, Baidu will acquire JOYYs domestic video-based entertainment live streaming business (YY Live), which includes the YY mobile app, YY.com website, and PC YY, among others, for an aggregate purchase price of approximately US$3.6 billion in cash, subject to certain adjustments. The closing of... More

JOYY Reports Third Quarter 2020 Unaudited Financial Results

November 16, 2020 5:15 PM EST

GUANGZHOU, China, Nov. 17, 2020 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (JOYY or the Company, formerly known as YY Inc.), a global video-based social media platform, today announced its unaudited financial results for the third quarter of 2020. 

Third Quarter 2020 Financial Highlights1

Net revenues increased by 36.1% to RMB6,286.4 million (US$925.9 million) from RMB4,617.3 million in the corresponding period of 2019.Net income from continuing operations attributable to controlling interest of JOYY Inc.2 was RMB2,303.2 million... More

Baidu Announces Third Quarter 2020 Results

November 16, 2020 4:30 PM EST

BEIJING, Nov. 16, 2020 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU) ("Baidu" or the "Company"), a leading search engine, knowledge and information centered Internet platform and AI company, today announced its unaudited financial results for the third quarter ended September 30, 2020[1].

"Our revenue growth turned positive in the third quarter with many advertising verticals turning around, putting Baidu in a good position to further benefit from a recovery in the Chinese economy. The vibrant mobile ecosystem that Baidu has built in the last few years sets a strong foundation for us to grow our... More

Baidu to Acquire JOYY's Live Streaming Business in China

November 16, 2020 4:18 PM EST

BEIJING, Nov. 16, 2020 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU) ("Baidu" or the "Company"), a leading search engine, knowledge and information centered Internet platform and AI company, today announced that the Company had entered into definitive agreements with JOYY Inc. ("JOYY"). Pursuant to the agreements, Baidu will acquire JOYY's domestic video-based entertainment live streaming business in China ("YY Live"), which includes YY mobile app, YY.com website and PC YY, among others, for an aggregate purchase price of approximately US$3.6... More