Baidu weathers Covid-19 slump better than expected, sees rebound

Baidu reported a smaller slide in revenue than analysts were projecting and gave a more optimistic forecast for the current quarter.Sales at the Chinese internet search giant slid 7 per cent to 22.5 billion yuan (US$3.2 billion) in the March quarter, compared with the 21.9 billion yuan average of analysts’ estimates. It forecast a revenue growth rate of -5 per cent to 4 per cent in the current period.“With the pandemic coming under control in China, offline activities are rebounding and Baidu…

Read the original article at South China Morning Post