Baidu 1Q Income Rises on Non-Advertising and marketing Attain
1 min readBy Dave Sebastian
Baidu Inc. mentioned its income grew in the first quarter as its non-promotion revenue grew 70%.
The Chinese look for-motor huge on Tuesday posted internet money attributable to the corporation of 25.65 billion yuan ($3.92 billion), compared with CNY41 million in the 12 months-before time period. Earnings were CNY73.76 for each American depositary share, in contrast with CNY0.02 a share in the prior year.
The firm booked other money of CNY23.36 billion for the to start with quarter, which provided a truthful worth gain of CNY23.7 billion from extensive-time period investments, mainly which include a gain from the financial investment in Kuaishou Know-how. It booked a decline of CNY1.82 billion for the equivalent line a calendar year back.
Adjusted earnings ended up CNY12.38 for each American depositary share. Analysts polled by FactSet were searching for CNY10.51 for every American depositary share.
Profits rose to CNY28.13 billion from CNY22.55 billion. Analysts have been on the lookout for CNY27.41 billion.
Revenue from Baidu’s main businesses rose 34% to about CNY20.5 billion. Online marketing and advertising income rose 27% to CNY16.3 billion, and non-marketing revenue grew 70% to CNY4.2 billion. Earnings from iQiyi rose 4% to CNY8 billion.
Publish to Dave Sebastian at [email protected]
(End) Dow Jones Newswires
May possibly 18, 2021 06:58 ET (10:58 GMT)
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