Baidu grew thanks to strong quarterly revenue growth

The Chinese search engine Baidu said that he has seen robust quarterly revenue growth year on year, citing strong traffic and its continued investment in artificial intelligence.

The company, sometimes considered Google's China, has spent much of the past year moving away from its peripheral activities to focus on its main search engine and artificial intelligence. In April, he announced that he would close his financial services branch in a $ 1.9 billion deal involving TPG and other investors.

Baidu announced a turnover of 26 billion RMB in the fourth quarter ended June 30. 87 billion reported the same period a year ago, and compared to the company's forecast range for 24.9 billion Rmb to 26.2 billion Rmb. According to a Thomson Reuters survey, the median estimate of analysts was 25.56 billion rand.

Net profit attributable to Baidu rose from R4.44 billion a year ago to R6.4 billion against R5.75 billion.

Baidu's first quarter results exceeded the market and its own expectations, partly due to a one-off spin-off gain from its response to Netflix, iQiyi

For the current quarter, Baidu expects a net sales figure of Business of 27.37 billion Rmb and 28.77 billion Rmb, against 27.92 billion Rmb. Excluding the impact of announced divestitures, the third quarter's sales figure is expected to be between Rmb 26.56 billion and Rmb 27.92 billion.

With Tencent, a New York-listed company listed on the New York Stock Exchange, Tencent is one of the BATs, an acronym for Faangs, which brings together China's largest technology companies.

Like their American counterparts, the trio was also caught in the recent wave of stock market liquidation. Baidu shares listed in New York are down about 12.4 percent from a May record, compared to 11.4 percent for Alibaba since May and a loss of just over a quarter. A quarter for shares listed in Tencent in Hong Kong since their record in January

Baidu shares listed in New York are still up 5.5% so far in 2018, and have were 3.7% higher in the aftermarket after the results on Tuesday.