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China's Baidu beats quarterly revenue estimates

Reuters

May 16 (Reuters) - China's Baidu beat analysts' estimates for first-quarter revenue on Thursday, driven by a recovery in advertising sales and higher demand for its cloud products.

The company reported revenue of 31.51 billion yuan ($4.37 billion) for the first three months of the year, compared with analysts' average estimate of 31.21 billion yuan, according to LSEG data.

($1 = 7.22 Chinese yuan renminbi)

(Reporting by Yuvraj Malik in Bengaluru; Editing by Pooja Desai and Varun H K)