China's Baidu beats revenue estimates on cloud growth
Source: Bloomberg
Baidu, China’s largest search engine operator, reported quarterly revenue that exceeded market expectations on Thursday, as robust growth in its cloud business helped offset continued weakness in its core advertising segment.
The company posted total revenue of 32.74 billion yuan ($4.79 billion) for the quarter ended December. That figure slightly surpassed analysts’ average estimate of 32.62 billion yuan, according to data compiled by LSEG, News.Az reports, citing Reuters.
While Baidu’s traditional advertising business has faced ongoing pressure, expanding demand for cloud services provided a key source of support for overall performance during the quarter.
By Nijat Babayev
Similar news
