Baidu beats estimates on strong video streaming growth

Aug 19 2019 by TechCrunch

 

Chinese search giant Baidu on Monday posted a revenue of 26.33 billion yuan ($3.73 billion) for the quarter that ended in June, beating analysts’ estimates of 25.77 billion yuan ($3.65 billion) as its video streaming service iQIYI continues to see strong growth. The 19-year-old firm’s shares were up over 9% in extended trading.

The company, which is often called Google of China, said revenue of its core businesses grew 12% from the same period last year “despite the weak macro...

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