November 16, 2020
(Reuters) – China’s Baidu Inc <BIDU.O> reported third-quarter revenue above market expectations on Monday, as its video streaming service iQIYI <IQ.O> added more paying subscribers and its search engine platform benefited from a recovery in ad spending by businesses.
The company said total revenue rose 1% to 28.23 billion yuan ($4.29 billion) in the third-quarter ended Sept.30. Analysts on average had expected revenue of 27.45 billion yuan, according to IBES data from Refinitiv.
(Reporting by Ayanti Bera in Bengaluru; Editing by Arun Koyyur)
