Continuing its strong recovery after Covid-19, Chinese search giant Baidu has reported first quarter revenue that beat analysts’ estimates, reports Bloomberg.
Driven by gains in the value of long-term investments, including recently listed Kuaishou Technology, net income surged to RMB 25.7 billion in the three months ended in March. Revenue climbed 25% to RMB 28.1 billion ($4.4 billion) compared with average estimates of RMB 27.3 billion.
Analysts expect RMB 30.2 billion worth of sales in the second quarter, while the company has predicted sales of between RMB 29.7 billion and RMB 32.5 billion before the end of June.
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