China’s Baidu beats quarterly revenue estimates on AI, cloud boost
(Reuters) – China’s Baidu Inc reported quarterly revenue that beat Wall Street estimates on Tuesday, as the company beefed up its cloud and artificial intelligence firms to fend off opponents throughout the selling enterprise.
The Beijing-based tech giant has diversified its revenue sources by growing its cloud firms, artificial intelligence, and good transport experience footprint as opponents for selling product sales heats up from native net giants Alibaba and ByteDance.
The agency, which obtained a secondary itemizing in Hong Kong in March, talked about complete revenue rose 25% to twenty-eight.13 billion yuan ($4.38 billion) throughout the first quarter, boosted partly by the 70% year-on-year improvement of its non-advertising revenue, which includes the fast-growing cloud enterprise.
Analysts on widespread had anticipated revenue of 27.25 billion yuan, in accordance with IBES information from Refinitiv.
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