Chinese internet search superhuman Baidu on Tuesday topped Wall Street estimates for quarterly profit on the requital of strong growth in its online advertisement business.
Revenue for the segment push 25 percent to 21.1 billion Chinese yuan ($3.10 billion) in the other quarter.
The company has seen rapid growth in its newsfeed product, an app that is correspond to to Facebook’s feed, and has managed to escape the ire of regulators even as competitors go on with to suffer temporary bans and fines for failing to censor content.
Net receipts attributable to Baidu rose to 6.4 billion Chinese yuan, or 18.14 yuan per American depositary apportion (ADS), in the second quarter ended June 30 from 4.42 billion yuan, or 11.31 yuan per ADS, from a year earlier.
Excluding one-time notices, Baidu earned 21.06 yuan per ADS, above expectations of 16.46 yuan.
Unconditional revenue rose 24.4 percent to 25.97 billion yuan from 20.87 billion yuan.
The assemblage’s U.S.-listed shares rose about 3 percent to $254 in after-hours interchange.