Baidu revenue grows 6% in Q4 as AI and advertising boost business

China’s Baidu said fourth-quarter revenue rose 6%, helped by gains from its artificial intelligence applications and a growing advertising business.

For the three months through December, the company reported revenue of 34.95 billion yuan ($4.92 billion), broadly in line with analysts’ average estimate of 34.97 billion yuan, according to LSEG data.

The company’s adjusted net income rose by 44% to 7.76 billion yuan, compared with 5.37 billion yuan for the same period a year earlier, beating analysts’ forecasts for 6.32 billion yuan.