No surprise here, but Baidu shares are up after-hours after Google threatened to leave China if the government doesn’t let it run an uncensored search engine there.
Baidu shares are up 6.99% after hours to $413.52, while Google shares are down 1.13% to $583.80.
Baidu currently dominates the Chinese search market, and stands to gain share if Google leaves. Google’s search share in China is around 15%-20%, much lower than leader Baidu, which is around 75%-80%.
More about Google’s gutsy call here.
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Updated 8:55 p.m. ET with latest quotes.
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See Also:
- Google Threatens To Pull Out Of China Over Free Speech
- Surprise! Google Is Actually Fighting Back In China
- An Insider’s View Of The Battle Between Google And Baidu In China