Future Tech
China's Baidu beats quarterly revenue estimates
Search engine giant Baidu reported quarterly revenue above market estimates on Thursday, signalling some recovery in the Chinese advertising market.
Revenue in the second quarter was 33.93 billion yuan (US$4.67 billion), compared with analysts' average estimate of 33.55 billion yuan, according to LSEG data.
US-listed shares of Baidu rose more than 1% in pre-market trading.
Baidu's online marketing business, which contributes the majority of its revenue, declined 2% to 19.2 billion yuan.
- Reuters
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