Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 09/08/2022 08:23 
27.05.2022 11:27 News >> Chinese Tech Firm Baidu Sees Revenue Growth Despite COVID Measures

Chinese Tech Firm Baidu Sees Revenue Growth Despite COVID Measures

Challenges related to virus continue to pressure near term business operations, CEO says.

Chinese tech firm Baidu which specializes in internet services and artificial intelligence (AI) saw revenue growth in the first quarter of this year despite COVID-19 measures in the country, according to the firm's financial results statement.
Baidu Core, which includes keyword-based marketing and AI products and services, posted a revenue of 21.4 billion yuan ($3.18 billion) in the first quarter, up 4% from the same period last year, said the statement released Thursday.
"Revenues from Baidu Core remained healthy with non-ad revenues increasing by 35% year-on-year, driven by Baidu AI Cloud, which grew 45% year-on-year in the quarter," CFO Rong Luo noted in the statement.
Baidu CEO and co-founder Robin Li said the company's business has been negatively impacted by the COVID-19 resurgence in China since mid-March.
"Although challenges related to the virus continue to pressure our near-term business operations, we remain confident that our new AI businesses will boost the long-term growth of Baidu and contribute to China's innovation-driven economy and sustainable development," he added.
"Most notably, our new AI businesses are well aligned with China's priorities in tech innovation, green transition and digital economy," he later said during the firm's earnings call.
Li also noted that the company won the first permit in China for driverless ride-hailing services on open roads in April.
Baidu's search engine is the biggest in China, while its AI products and services are among the largest in the world. -



        Latest News
Anadolu Agency's Morning Briefing - Aug. 9, 2022 -31 minutes ago...
Daily briefing on latest global developments.
Russia Suspends US Inspections Of Its Nuclear Arsenals Under New START Treaty -16 minutes ago...
Exemption also covers facilities that can be used for demonstrations under treaty, says Russian Foreign Ministry.
Iran Says It Will Review EU's 'Final' Text To Restore Nuclear Deal -1 minutes ago...
EU says it has put forward 'final' text to salvage JCPOA.
Germany's SPD Rejects Calls To Expel Former Chancellor -31 minutes ago...
Party's arbitration body says there are no grounds to expel Gerhard Schroeder over his Russian ties.
Sri Lanka Asks China To Defer Arrival Of Ship After Indian 'Concerns' -16 minutes ago...
Decision taken ‘in light of the need for further consultations,’ says Sri Lanka's Foreign Ministry.

 
      Top News
Sri Lanka Asks China To Defer Arrival Of Ship After Indian 'Concerns' Sri Lanka Asks China To Defer Arrival Of Ship After Indian 'Concerns'
Kenyans To Vote In Highly Contested Elections Kenyans To Vote In Highly Contested Elections
Mcmichaels Get Life Sentences For Murder Of Ahmaud Arbery In US State Of Georgia Mcmichaels Get Life Sentences For Murder Of Ahmaud Arbery In US State Of Georgia
Beluga Whale Stalled In France's Seine River Beluga Whale Stalled In France's Seine River
US Announces Major New $1B Military Aid Package For Ukraine US Announces Major New $1B Military Aid Package For Ukraine
3 Women Killed In India Temple Stampede 3 Women Killed In India Temple Stampede
Can 'Inflation Reduction Act' Really Act On Ever-Rising Prices In US? Can 'Inflation Reduction Act' Really Act On Ever-Rising Prices In US?
Joint Coordination Center Inspects Ships Carrying Grain From Ukraine Joint Coordination Center Inspects Ships Carrying Grain From Ukraine
Hamas Calls For Halting Israeli Attacks On Gaza Hamas Calls For Halting Israeli Attacks On Gaza
Hundreds Of Israelis Storm Jerusalem's Al-Aqsa Complex Amid Gaza Attacks Hundreds Of Israelis Storm Jerusalem's Al-Aqsa Complex Amid Gaza Attacks