Baidu revenue rises 13% to $4.9 billion in Q3

Wednesday, 17. November 2021 09:38

Baidu said on Wednesday that its revenue in the third quarter of fiscal 2021 amounted to $4.9 billion, marking a 13% jump from the same trimester a year earlier and coming in above expectations.

"Baidu Core delivered another solid quarter, powered by our AI cloud revenue growing 73% year over year," Baidu CFO Rong Luo stated. "With a diversified AI portfolio, including cloud services, smart transportation, smart devices, self-driving, smart EV and robotaxi, we are well positioned for long-term growth," he added.

Meanwhile, the Chinese tech company's net loss stood at $2.6 billion, or $7.48 per share, worsening from a net income of $2.01 billion achieved in the third quarter of 2020. Operating income dropped 63% to $358 million. Adjusted net income fell 27% year on year to land at $790 million and adjusted operating income was $731 million.

Related Links: Baidu Inc.
Author:
Baha Breaking the News (BBN) / NP