Beijing, 22nd August: Earlier this week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th June 2023. Revenues for the quarter were US$4.7 billion, an increase of 15% year-on-year. The company recorded year-on-year profit growth of 43%, reaching US$718 million in the quarter.

More than 61% of its total revenues (US$2.9 billion) were generated from Baidu’s online marketing services, which was up by 15% over last year. The remaining revenues were generated from “other services”, amounting to US$1.8 billion. This represents growth of 14% compared with the same quarter last year.