Quarterly profit and revenue of Chinese media giant Baidu Inc. surpassed market estimates, Reuters reports, with shares jumping 5% to $236.4 in response.
In a report released on Tuesday, Baidu attributed the growth to strong performance of its search and newsfeed services. Revenue from this sector rose 26.3% to 20.4 billion yuan ($3.22 billion).
According to a Reuters poll, analysts anticipated a total revenue of 23.05 billion yuan. The official figures exceed expectations, rising 29.3% to 23.56 billion yuan.