China's Baidu posts 24.4 percent rise in quarterly revenue

(Reuters) - China’s Baidu Inc reported a 24.4 percent rise in quarterly revenue on Tuesday, driven by gains in the internet search firm’s online ad business.

FILE PHOTO: Members of staff work at the Baidu booth during Global Mobile Internet Conference (GMIC) at the National Convention in Beijing, China April 27, 2018. REUTERS/Damir Sagolj/File Photo

Net income attributable to Baidu rose to 6.4 billion Chinese yuan ($940.65 million) in the second quarter ended June 30, or 18.14 yuan per American depositary share (ADS), from 4.42 billion yuan, or 11.31 yuan per ADS, from a year earlier.

Total revenue rose to 25.97 billion yuan from 20.87 billion yuan.

Reporting by Munsif Vengattil in Bengaluru and Cate Cadell in Beijing; Editing by Arun Koyyur

Our Standards:The Thomson Reuters Trust Principles.

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