Business momentum in China is building after it dropped most of its strict Covid-19 curbs late last year, with consumers and companies reviving spending.
Baidu's revenue rose 10% to 31.14 billion yuan in the quarter to March 31, surpassing analysts' estimates of 29.97 billion yuan, according to Refinitiv data.
Of this, revenue from Baidu's largest segment, online marketing, accounted for 16.6 billion yuan, up 6%.rose 15% to 8.3 billion yuan, driven by 28% growth in its subscriber base.It reported net income of 5.83 billion yuan, compared to net loss in the year-ago quarter. Excluding items, it earned 16.10 yuan per American Depository Share, higher than Wall Street's estimate of 12.46 yuan.
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