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Baidu 1Q Revenue Rises on Non-Advertising Gain

By Dave Sebastian


Baidu Inc. said its revenue grew in the first quarter as its non-advertising revenue grew 70%.

The Chinese search-engine giant on Tuesday posted net income attributable to the company of 25.65 billion yuan ($3.92 billion), compared with CNY41 million in the year-earlier period. Earnings were CNY73.76 per American depositary share, compared with CNY0.02 a share in the prior year.

The company booked other income of CNY23.36 billion for the first quarter, which included a fair value gain of CNY23.7 billion from long-term investments, mainly including a gain from the investment in Kuaishou Technology. It booked a loss of CNY1.82 billion for the comparable line a year ago.

Adjusted earnings were CNY12.38 per American depositary share. Analysts polled by FactSet were looking for CNY10.51 per American depositary share.

Revenue rose to CNY28.13 billion from CNY22.55 billion. Analysts were looking for CNY27.41 billion.

Revenue from Baidu's core businesses rose 34% to about CNY20.5 billion. Online marketing revenue rose 27% to CNY16.3 billion, and non-marketing revenue grew 70% to CNY4.2 billion. Revenue from iQiyi rose 4% to CNY8 billion.


Write to Dave Sebastian at


(END) Dow Jones Newswires

May 18, 2021 06:58 ET (10:58 GMT)

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