Baidu rises after Q1 revenue beat

IQIYI

16/05/2024 10:50

** U.S.-listed shares of Chinese technology company Baidu
 9888.HK  rise 2.5% to $113.50 premarket
    ** Co reports Q1 revenue of 31.51 billion yuan ($4.37
billion), beating estimates of 31.21 billion yuan- LSEG 
    ** Revenue from Baidu Core, which includes co's search-based
ad sales, cloud offerings and autonomous driving initiatives,
grows 4% to 23.8 billion yuan in Q1
    ** Co's streaming service iQIYI  IQ.O  posts revenue of 7.90
billion yuan, down 5% from year earlier
    ** Up to last close, stock has fallen 7% YTD
    
    
($1 = 7.22 Chinese yuan renminbi)

 (Reporting by Harshita Mary Varghese in Bengaluru)
 ((HarshitaMary.Varghese@thomsonreuters.com))