{"id":4083,"date":"2022-08-30T09:00:00","date_gmt":"2022-08-30T09:00:00","guid":{"rendered":"https:\/\/asiaposts.com\/baidu-beats-quarterly-revenue-estimates-on-cloud-business-boom\/"},"modified":"2022-08-30T09:00:00","modified_gmt":"2022-08-30T09:00:00","slug":"baidu-beats-quarterly-revenue-estimates-on-cloud-business-boom","status":"publish","type":"post","link":"https:\/\/asiaposts.com\/baidu-beats-quarterly-revenue-estimates-on-cloud-business-boom\/","title":{"rendered":"Baidu beats quarterly revenue estimates on cloud business boom"},"content":{"rendered":"
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China’s search engine giant Baidu beat quarterly revenue estimates on Tuesday (Aug 30), underpinned by demand for its cloud and artificial intelligence-powered offerings.<\/p>\n
US-listed shares of the company rose 3.2 per cent in pre-market trade.<\/p>\n
Even as Baidu’s core advertising sales continue to be soft, customers are signing up for its cloud services – a key area of growth globally – as demand for internet applications increase.<\/p>\n
Total revenue stood at 29.65 billion yuan (US$4.43 billion) in the second quarter, compared with analysts’ average estimate of 29.30 billion yuan, according to Refinitiv data.<\/p>\n
Revenue at Baidu’s AI Cloud unit grew 31 per cent year on year in the reported quarter.<\/p>\n
Compared with year-ago numbers, the topline came in 5 per cent lower, its first quarterly de-growth in two years.<\/p>\n
Baidu posted a net profit of 3.64 billion yuan, or 1.49 yuan per American Depository Share (ADS).<\/p>\n<\/div>\n
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[ad_1] China’s search engine giant Baidu beat quarterly revenue estimates on Tuesday (Aug 30), underpinned by demand for its cloud and artificial intelligence-powered offerings. US-listed shares of the company rose 3.2 per cent in pre-market trade. Even as Baidu’s core advertising sales continue to be soft, customers are signing up for its cloud services – […]<\/p>\n","protected":false},"author":1,"featured_media":4084,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,20,6],"tags":[41],"yoast_head":"\n