Baidu Revenue Beats as ChatGPT-Style AI Awaits Beijing Approval

08/23/2023 15:40
report
Baidu Revenue Beats as ChatGPT-Style AI Awaits Beijing Approval

Baidu Inc.’s revenue rose its most in more than a year, joining China’s largest internet companies in rediscovering growth after Beijing relaxed its grip on the private sector to try and jumpstart a faltering economy.

Baidu Revenue Beats as ChatGPT-Style AI Awaits Beijing Approval

  • The company reported a larger than projected 15% jump in sales
  • It’s riding a bounce-back in advertising from Covid depths

WATCH: Baidu Inc.’s revenue rose its most in more than a year. Zheping Huang reports.Source: Bloomberg

Baidu Inc.’s revenue rose its mostBloomberg Terminal in more than a year, joining China’s largest internet companies in rediscovering growth after Beijing relaxed its grip on the private sector to try and jumpstart a faltering economy.

Its shares rose about 4% in pre-market trading in New York. The company reported a larger-than-projected 15% jump in sales to 34.1 billion yuan ($4.7 billion) for the June quarter. Net income rose 43% to 5.2 billion yuan.

Up Next

Baidu Revenue Beats as ChatGPT-Style AI Awaits Beijing Approval

Read more --->

0 Like 0 Share -39754 4 0 bloomberg.com defi