August 19, 2019 / 8:47 PM / 3 months ago

Baidu beats revenue estimates on strong video streaming growth

Aug 19 (Reuters) - China search engine operator Baidu Inc reported a 1.4% rise in quarterly revenue that beat estimates on Monday, aided by strong growth in its video streaming platform iQIYI.

Total revenue rose to 26.33 billion yuan ($3.73 billion) from 25.97 billion yuan ($3.68 billion) a year earlier. Analysts on average had expected revenue of 25.77 billion yuan, according to IBES data from Refinitiv.

Net income attributable to the company fell to 2.41 billion yuan ($341.85 million) in the second quarter ended June 30, from 6.40 billion yuan ($907.81 million) a year earlier.

Baidu's shares rose 8.4% to $112.98 after the bell. ($1 = 7.0499 Chinese yuan renminbi) (Reporting by Ayanti Bera in Bengaluru and Yingzhi Yang in Beijing; Editing by Bernard Orr)

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