Baidu posts US$2b profit in Q3

Beijing, 16th November: Earlier this week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th September 2020. Revenues in the quarter were US$4.2 billion, a moderate increase of 1% year-on-year. The company posted a net profit of US$2.02 billion in the quarter, compared with a net loss of US$892 million in the same quarter of last year.

Revenues from Baidu’s core business were US$3.15 billion in the quarter, a 2% increase year-on-year. Of which, US$2.72 billion were generated from its online marketing business, while non-online marketing revenue amounted to US$434 million. Online marketing revenue was flat compared to last year, and non-online marketing revenue grew 14%, due to the growth of Baidu’s cloud services.