China’s Baidu reports first rise in revenue in three quarters in sign of recovery
Baidu reported its first rise in revenue in three quarters, showing early signs of recovery, after the Chinese government’s restrictions on health care advertising last year slashed the number of ad clients in its core search business.
Baidu’s revenue in the first quarter rose to 16.9 billion yuan (US$2.45 billion) from 15.82 billion yuan a year earlier, the company said on Thursday.
Baidu in February forecast first-quarter revenue of 16.48 billion-17.03 billion yuan.
Net income attributable to the company fell to 1.78 billion yuan in the quarter ended March 31, from 1.99 billion yuan a year earlier, the company said.