Baidu posts 25 per cent growth in quarterly revenue as boosted by AI, cloud services

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The Chinese search engine giant Baidu reported quarterly revenue that beat analysts estimates as it stepped up its cloud and artificial intelligence services to fend off competition.

Revenue climbed 25 per cent to 28.1 billion yuan ($4.4 billion) in the three months ended March, compared with the average 27.3 billion yuan of estimates. Net income surged to 25.7 billion yuan, mostly boosted by gains in the value of long-term investments, including in recently listed Kuaishou Technology.

The Beijing-based company’s push into cloud services, artificial intelligence, autonomous driving and . . .

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