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
Created by Tan KW | Aug 24, 2024
Created by Tan KW | Aug 24, 2024
Created by Tan KW | Aug 24, 2024