Internet giant Baidu increased quarterly profit 1.5 times

The net income of the Chinese Internet giant Baidu in the second quarter of 2018 increased by 45% in annual terms, or 1.5 times, to 6 billion 400 million yuan. Adjusted earnings per share were 21.06 yuan, while analysts had predicted 16.46 yuan per share. Revenues grew 24% to 25 billion 970 million yuan. A significant increase in quarterly figures was due to increased advertising revenue, as well as the demand for personalized news and projects related to artificial intelligence. The growth of revenues from Internet advertising amounted to 25%, from other services - 64%. The company increased the price of content by 67.5%, operating expenses - by 12.3%.

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