China’s Baidu has exceeded revenue expectations, thanks to a resurgence in advertising and the expansion of its cloud services

Baidu, one of China’s leading search engine firms, surpassed analysts’ revenue forecasts for the Q1 on Thursday 16th May 2024.

This was predominately due to a recovery in advertising revenue and a surge in demand for its AI-driven cloud products.

The company announced a revenue of 31.51 billion yuan ($4.37 billion) for the quarter ending 31st March 2024, exceeding the average analyst projection of 31.21 billion yuan, according to a latest dataset.

Shares of Baidu listed in the U.S. saw an approximate 3% increase in premarket trading.

The tech giant has been actively enhancing its sales efforts focused on AI-centric products and services.

Leave a Reply

Your email address will not be published. Required fields are marked *