BEIJING (AP) — BEIJING (AP) — Baidu Inc. (BIDU) on Thursday reported third-quarter earnings of $1.09 billion.

On a per-share basis, the Beijing-based company said it had profit of $3.08. Earnings, adjusted for one-time gains and costs, were $2.37 per share.

The web search company posted revenue of $4.78 billion in the period.

Baidu Inc. shares have dropped 27% since the beginning of the year. The stock has dropped 22% in the last 12 months.

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