Hong Kong: Baidu Inc reported quarterly revenue that beat estimates after the Chinese search giant’s business proved resilient to an economic slowdown and competition from ByteDance Inc.
Third-quarter revenue came in at 28.1 billion yuan (US$4bil).
That was down slightly from a year earlier but exceeded the 27.5 billion yuan average of analysts’ projections.
The company also projected revenue of 27.1 billion yuan to 28.7 billion yuan, generally in line with estimates.
The shares jumped about 5% in extended trading. — Bloomberg
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