Beijing, 26th May: Also announced last week, Baidu, the leading Chinese language Internet search company, reported revenues of US$4.5 billion for the quarter ended 31st March 2022, which is similar to the figure posted in the first quarter of 2021. The company recorded a net loss of US$140 million in the reported period, compared with a huge profit of US$3.9 billion in the previous year.

About 60% of Baidu’s revenues were generated from its online marketing services, amounting to US$2.7 billion. That figure fell 6.4% year-on-year. While the rest of its revenues, categorised as “other” increased by 14%, to US$1.8 billion. According to the company, the increase in “other” revenues was mainly driven by its cloud and AI-powered businesses.