China’s Baidu beats quarterly revenue estimates on AI, cloud boost

China’s Baidu Inc reported quarterly revenue that beat Wall Street estimates on Tuesday, as the company beefed up its cloud and artificial intelligence services to fend off competition in its core search business.

Also known as China’s Google, Baidu has diversified its revenue sources by expanding its cloud-computing, artificial intelligence, autonomous driving and smart transport technology footprint as competition for advertising sales heats up from local internet giants Alibaba and ByteDance.