Baidu fourth-quarter earnings lag estimates
By Yongchang Chin Baidu Inc. posted fourth-quarter net profit of 1.72 billion yuan , compared with CNY5.17 billion a year earlier, the company said Tuesday.The Chinese search-engine giant reported quarterly revenue of CNY33.09 billion, led by strong growth in its nonadvertising business including its Baidu AI Cloud.
Fourth-quarter revenue from Baidu's core businesses rose 12% to CNY26 billion, while its online marketing revenue increased 1% to CNY19.1 billion. Its nononline marketing revenue rose 63% to CNY6.9 billion, driven by cloud and other AI-powered businesses, the company said.
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