Baidu posts 25 per cent rise in quarterly revenue as it continues pivot into AI and cloud services

//Baidu posts 25 per cent rise in quarterly revenue as it continues pivot into AI and cloud services

Baidu posts 25 per cent rise in quarterly revenue as it continues pivot into AI and cloud services

Baidu, the Chinese search giant that is shifting into artificial intelligence, reported quarterly revenue that beat analysts estimates, extending its recovery from the Covid-19 pandemic.Revenue climbed 25 per cent to 28.1 billion yuan (US$4.4 billion) in the three months ended March, compared with the average 27.3 billion yuan of estimates. Net income surged to 25.7 billion yuan, mostly boosted by gains in the value of long-term investments, including in recently listed Kuaishou Technology.The…

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By | 2021-05-18T10:40:15+00:00 May 18th, 2021|Technology|Comments Off on Baidu posts 25 per cent rise in quarterly revenue as it continues pivot into AI and cloud services