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.