China’s Baidu beats revenue estimates on strong cloud, AI demand
(Reuters) – China’s Baidu Inc reported quarterly revenue above Wall Street expectations on Wednesday, helped by a restoration in selling and an uptick in demand for its cloud corporations and artificial intelligence platforms.
The outcomes come at a time when Baidu is beefing up its autonomous and good transportation experience to faucet into the fast-growing electric-vehicle market and diversify its sources of revenue.
As the house monetary system recovers, the Beijing-based agency’s investments in non-core corporations may also be serving to it fend off opponents to its core search platform from rivals Alibaba, Tencent Holdings and ByteDance, whose merchandise are equally well-liked.
Baidu acknowledged it expects current-quarter revenue between 26 billion yuan and 28.5 billion yuan, above expectations of 25.79 billion yuan.
Its full revenue rose 5% to 30.26 billion yuan ($4.69 billion) …