Baidu performs better than expected

China’s Google Baidu reports better-than-expected quarterly figures as a result of significant budget cuts.

Sales fell to $4.3 billion. The total turnover came in the past quarter amounted to 29.6 billion Chinese yuan, or 4.4 billion dollars. Operating profit decreased slightly year-on-year, by 2 percent, to 3.4 billion yuan.

Below the line, a net profit of 3.6 billion yuan remained, compared to a loss of 583 million yuan in the same period a year earlier.

The cloud business performed very well in the quarter. Turnover grew by 31 percent.

Source: Nieuws – Emerce by

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