May 21 (Reuters) - Search engine giant Baidu ( BIDU )

on Wednesday reported its quarterly revenue rose by 3%,

indicating some recovery in the Chinese advertising market.

Revenue in the first quarter stood at 32.45 billion yuan

($4.50 billion), beating analysts' average estimate of 30.9

billion yuan, according to data compiled by LSEG.

($1 = 7.2067 Chinese yuan renminbi)