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China's Baidu posts 3% fall in third-quarter revenue, beats market estimates
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China's Baidu posts 3% fall in third-quarter revenue, beats market estimates
Nov 21, 2024 6:23 PM

Nov 21 (Reuters) - Baidu ( BIDU ) reported a 3% fall in

third-quarter revenue on Thursday, beating market estimates, as

China's biggest internet search provider grappled with weak

spending on its advertising services in a sluggish economy.

Revenue reached 33.56 billion yuan ($4.64 billion) for the

three months ended Sept. 30. That compared with the 33.43

billion yuan average of 20 analysts' estimates compiled by LSEG.

Net income climbed 14% to 7.63 billion yuan versus a

consensus estimate of 4.67 billion yuan.

($1 = 7.2370 Chinese yuan renminbi)

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