Search engine giant Baidu Inc beat first-quarter revenue estimates on Tuesday as businesses spent more on advertising amid China's economy recovery, after the country dropped most of its strict COVID curbs late last year.
Baidu's logo is pictured at the 2018 Baidu World conference and exhibit to showcase its latest AI technology in Beijing, China, November 1, 2018. REUTERS/Jason Leebeat first-quarter revenue estimates on Tuesday as businesses spent more on advertising amid China's economy recovery, after the country dropped most of its strict COVID curbs late last year.
China's economy grew at a faster-than-expected rate of 4.5% year-on-year in the three months through March, according to the latest official data. Revenue from Baidu Core, which includes search-based ad sales, cloud offerings and its autonomous driving initiatives, grew 8% to 23 billion yuan.
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