Baidu Turns To Profit In Q1 On Higher Revenues

(RTTNews) - Baidu.com Inc. (BIDU), a Chinese internet and artificial intelligence company, on Tuesday reported that its first-quarter net income attributable to Baidu was RMB 5.8 billion or $848 million, compared to last year's loss of RMB 885 million.

Earnings per ADS was RMB 15.92 or $2.32, compared to loss of RMB 2.87 a year ago.

Non-GAAP net income attributable to Baidu was RMB 5.7 billion or $834 million, compared to prior year's RMB 3.88 billion. Non-GAAP earnings per ADS was RMB 16.10 or $2.34, compared to RMB 11.22 a year ago.

Total revenues increased 10 percent to RMB 31.1 billion or $4.54 billion from prior year's RMB 28.41 billion.

Revenue from Baidu Core was RMB 23.0 billion or $3.35 billion, increasing 8% year over year.

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