Baidu exceeds expectations on Wall Street







Photo credit © UzirePictures

(Boursier.com) — Baidu , the Chinese search engine, listed on Wall Street, exceeded market expectations for its third fiscal quarter. The group has diversified its activities, particularly in the field of AI. Quarterly revenue rose 6% to 34.4 billion yuan, about $4.8 billion. Activity is therefore very slightly higher than market expectations. Net profit reached 6.7 billion yuan in the quarter ended in September, much higher than expected. The group continues to integrate its AI robot Ernie into its products and monetizes its chatbot. The group’s adjusted quarterly profit was 7.3 billion yuan, approximately $996 million, or $2.80 per share.


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