Baidu rebounds in Q2 with 83% jump in net income

Baidu rebounds in Q2 with 83% jump in net incomeChinese internet giant Baidu said Friday that its net income had soared 83 percent in the second quarter — a strong recovery from tumbling profits in 2016 thanks to drastic spending cuts. The figure far exceeds analysts’ estimates of 2.9 billion yuan, and is a sign of Baidu’s recovery after authorities cracked down on its online advertising business, the company’s primary revenue stream. Total revenues in the second quarter were 20.9 billion yuan ($ 3.08 billion), a 14.3 percent increase from the same period in 2016.



Yahoo News – Latest News & Headlines