Baidu exceeded first-quarter analyst expectations for both revenue and profit. The company reported revenue of approximately $4.65 billion. Adjusted earnings reached $1.75 per share.
Baidu Core's AI-powered business revenue jumped 49% year-over-year to over RMB 13.6 billion ($1.9 billion). AI has emerged as the primary growth driver for the company.
Strong performance in cloud infrastructure helped offset softness in the iQIYI streaming unit.