Baidu exceeds income estimates on AI, cloud services and products energy

Males have interaction with a Baidu AI robotic close to the corporate emblem at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo/Record Picture

Would possibly 26 (Reuters) – Baidu Inc surpassed quarterly income estimates on Thursday as a resurgence of COVID-19 in China and accompanying restrictions drove up call for for its cloud and synthetic intelligence merchandise.

The corporate – Google’s an identical in China – has expanded aggressively into cloud services and products, robotaxis and self reliant riding in recent times as festival rises for its core seek platform and commercial trade.

It final month gained allows to deploy robotaxis with out people within the riding seat on open Chinese language roads for the primary time. learn extra

Overall income got here in at 28.41 billion yuan ($4.22 billion) within the first quarter, in comparison with analysts’ moderate estimate of 27.82 billion yuan, in line with IBES knowledge from Refinitiv.

Web loss on account of Baidu fell to 885 million yuan, or 2.87 yuan consistent with American Depository Proportion (ADS), within the quarter ended March 31, in comparison with a benefit of 25.65 billion yuan, or 73.76 yuan consistent with ADS, a 12 months previous.

($1 = 6.7382 Chinese language yuan renminbi)

Reporting by way of Tiyashi Datta in Bengaluru; Modifying by way of Aditya Soni

Our Requirements: The Thomson Reuters Consider Rules.