Baidu beats quarterly revenue estimates on strong advertising

Chinese search engine and artificial intelligence company Baidu Inc beat second-quarter revenue estimates on Tuesday, helped by strength in advertising.

The company’s U.S.-listed shares rose 2.4% in premarket trading.

Businesses have revived spending on digital advertising after easing of COVID-19 restrictions spurred an economic recovery, benefiting the Chinese tech giant, which relies on online ads for most of its revenue.