Baidu beats quarterly revenue estimates on AI, cloud services

FILE PHOTO: People walk near a Baidu logo at the company headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo

(Reuters) -Chinese search engine giant Baidu Inc beat quarterly revenue estimates on Tuesday, powered by growth in its cloud business and artificial intelligence (AI) initiatives.

Total revenue grew to 33.09 billion yuan ($5.24 billion) for the fourth quarter to Dec. 31, beating the 32.22 billion forecast by analysts, IBES data from Refinitiv showed.

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