Baidu’s quarterly revenue rises 24 percent

(Reuters) – Baidu Inc’s first-quarter revenue climbed about 24 percent, led by growth in the Chinese online search giant’s advertising business.

FILE PHOTO: Baidu’s company logo is seen at its headquarters in Beijing December 17, 2014. REUTERS/Kim Kyung-Hoon/File Photo

Net income attributable to Baidu rose to 6.69 billion Chinese yuan ($1.06 billion) in the quarter ended March 31, or 18.68 yuan per American depositary share (ADS), from 1.78 billion yuan, or 4.63 yuan per ADS from a year earlier.

Revenue came in at 20.91 billion yuan, up from 16.89 billion yuan a year earlier.

Reporting by Munsif Vengattil in Bengaluru; Editing by Sai Sachin Ravikumar

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