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China Media Earnings: Baidu Profits Rebound, Live-Streamers Stalled
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variety.comPatrick Frater Asia Bureau ChiefBaidu was once one of the big three entertainment tech firms in China and remains the majority owner of streamer iQIYI.
But these days it positions itself as “an AI company with a strong internet foundation,” and a group that straddles cloud computing, electric vehicles, search and data.Its revenues in the first quarter of the new financial year grew by 25% to RMB28.1 billion ($4.29 billion) with net profits increasing 39% to RMB4.30 billion ($656 million) on a non-GAAP basis.It still has a foot in the entertainment space, with activities including games and newsroom technology.
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