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Baidu Surges After Sales Beat Signals AI Push Is Paying Off

  • Non-ad businesses increased revenue by 63% in latest quarter
  • Chinese giant is expanding beyond search and into AI, cloud
The Baidu headquarters in Beijing.

The Baidu headquarters in Beijing.

Photographer: Qilai Shen/Bloomberg
Updated on

Baidu Inc.’s shares surged in Hong Kong after its revenue and profit beat estimates, signaling the Chinese internet giant’s efforts to monetize artificial intelligence technology is paying off.

The stock gained as much as 9.3% in early trading on Wednesday following a 6.8% advance in its U.S. shares. Revenue for the December quarter rose a better-than-expected 9% to 33.1 billion yuan ($5.2 billion). Adjusted earnings per American depositary receipt came at 11.60 yuan, 25% above estimates.