Chinese tech giant Baidu (BIDU) has announced that it has now taken its 2020 Share Repurchase Program from $1 billion to $3 billion, effective through December 31, 2022.During the second quarter Baidu returned $540 million to shareholders, bringing its cumulative repurchase for the last two years to approximately $1.9 billion.The announcement came as part of the company’s second quarter earning results, which saw the stock crater 6% in Friday’s trading. News of an SEC investigation into Baidu-owned online streaming provider iQIYI (IQ) also weighed on shares.Baidu reported overall revenues RMB 26.03B, down 1% year-over-year but up 15% from the previous …read more
Source:: Yahoo Finance
