Chinese search engine giant Baidu beats quarterly revenue estimates

Chinese search engine giant Baidu beats quarterly revenue estimates

Photographer: Bloomberg

China’s Baidu Inc reported a quarterly revenue that edged past analysts’ estimates on Thursday, as new subscriptions for its video streaming service partially offset a decline in ad revenue from its core search engine business.

The search engine giant said total revenue fell 1% to 26.03 billion yuan in the second-quarter ended June 30, above analysts’ estimate of 25.71 billion yuan, according to IBES data from Refinitiv.

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