News Snapshot:
Baidu , the Chinese search giant that is shifting into artificial intelligence , reported quarterly revenue that beat analysts estimates, extending its recovery from the Covid-19 pandemic. Revenue climbed 25 per cent to 28.1 billion yuan (US$4.4 billion) in the three months ended March, compared with the average 27.3 billion yuan of estimates. Net income surged to 25.7 billion yuan, mostly boosted by gains in the value of long-term investments, including in recently listed Kuaishou Technology . The Beijing-based company’s aggressive push into cloud services, artificial intelligence, autonomous driving and smart transport technology has helped grow its non-advertising revenue and...
