The outcomes come at a time when Baidu is beefing up its autonomous and good transportation expertise to faucet into the fast-growing electric-vehicle market and diversify its sources of income.
Because the home economic system recovers, the Beijing-based firm’s investments in non-core companies can be serving to it fend off competitors to its core search platform from rivals Alibaba, Tencent Holdings and ByteDance, whose merchandise are equally widespread.
Baidu mentioned it expects current-quarter income between 26 billion yuan and 28.5 billion yuan, above expectations of 25.79 billion yuan.
Its complete income rose 5% to 30.26 billion yuan ($4.69 billion) within the fourth quarter, topping analysts’ common estimate of 30.06 billion yuan, in response to IBES information from Refinitiv.
Excluding objects, Baidu earned 20.08 yuan per ADS, beating estimates of 16.89 yuan.
Its U.S.-listed shares, which have gained greater than 70% in 2020, rose 3.4% to $317 in after-market buying and selling.
Nonetheless, Baidu’s streaming affiliate, iQIYI, noticed subscribers fall by 3.1 million to 101.7 million by December, when put next with the third quarter.
The Netflix-like video-streaming web site is dealing with competitors from Tencent Video and Alibaba’s Youku, calling for heavy investments on content material to retain customers.
