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China's Baidu beats quarterly revenue estimates

Tan KW
Publish date: Thu, 22 Aug 2024, 05:42 PM
Tan KW
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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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