Baidu surpasses revenue estimates for AI, cloud service power According to Reuters

© Reuters. FILE PHOTO: Men interact with a Baidu AI robot near the company’s logo at its headquarters in Beijing, China April 23, 2021. REUTERS / Florence Lo / File Photo

(Reuters) -Baidu Inc beat quarterly revenue estimates on Thursday as the resurgence of COVID-19 in China and accompanying restrictions boosted demand for cloud and intelligence products. their artificial.

The company – the equivalent of Google (NASDAQ:) in China – has expanded aggressively into cloud services, robotics and autonomous driving in recent years as competition increases for the search platform. core search and advertising business.

Last month, it received a license to deploy robots without a human in the driver’s seat for the first time on China’s open roads.

Total revenue hit 28.41 billion yuan ($4.22 billion) in the first quarter, compared with analysts’ average estimate of 27.82 billion yuan, according to IBES data from Refinitiv .

Net loss due to Baidu (NASDAQ:) fell to 885 million yuan, or 2.87 yuan per American Depositary Share (ADS), for the quarter ended March 31, compared with profit profit of 25.65 billion yuan, or 73.76 yuan per ADS, a year earlier.

(1 dollar = 6,7382 yuan)

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