Baidu Reports Strong 2Q for Its Core Business as Well as iQiyi Customers and Revenue
Baidu reported strong second-quarter results with revenue up 32% and operating income up 29%. The result was highlighted by strong revenue and profit growth from the wide-moat core search and newsfeed business and very strong customer and revenue growth from the video business, iQiyi. Content costs widened the operating loss for iQiyi, with management forecasting continued high content spend over the next few quarters. Baidu management guided to a 23%-30% increase in revenue for the third quarte...
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