Baidu, Inc. (NASDAQ: BIDU) reported higher revenues and adjusted earnings for the third quarter of 2023. Both operating segments — Baidu Core and iQIYI registering growth.
Total revenues of the China-based technology company increased 6% year-over-year to RMB34.4 billion ($4.72 billion) in the September quarter. The Baidu app had 663 million monthly active users at the end of the quarter, which is up 5% year-over-year.
Third-quarter adjusted earnings moved up to RMB20.40 per ADS ($2.80 per ADS) from RMB16.87 per ADS in the corresponding period of fiscal 2022. On an unadjusted basis, net income was RMB18.22 per ADS ($2.50 per ADS).