It made a profit of US$718 million in the three months through June.
BEIJING: Chinese internet giant Baidu announced today “accelerated” revenue growth in the second quarter, as the country’s digital sector recovers from a tough crackdown despite a slowing domestic economy.
Baidu said in an earnings report today it made a profit of US$718 million in the three months through June, a year-on-year rise of 43%. Rival Tencent announced last week a 41% year-on-year jump in second-quarter net income, while e-commerce leader Alibaba reported an unexpected 14% on-year increase in quarterly sales.
Baidu has faced increased competition in recent years from domestic rivals including Tencent – which operates the WeChat messaging platform – and ByteDance, which runs the Chinese version of short-video sensation TikTok.
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