China’s Baidu is shrugging off US chip export restrictions


Source: qz.com qz.com

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It’s been a tough year for tech companies. The S&P China Tech 50 Index is down nearly 36% this year. The Nasdaq-100 Technology Sector Index is down by almost the identical percentage. Watch CC Off English Chef Marcus Samuelsson on giving employees a sense of purpose But amid this gloom, China’s Baidu is sounding a cautiously upbeat note about its prospects. The search engine giant just delivered a surprise revenue gain in the third quarter, with sales rising to 32.5 billion yuan ($4.6 billion), handily beating analyst forecasts of 31.8 billion yuan. Baidu share prices rose over 3.5% following the...