Baidu (NASDAQ: BIDU), the Chinese tech giant that owns the country's top search engine, recently posted first-quarter numbers that topped analysts' expectations. Its revenue rose 25% year over year to 28.1 billion yuan ($4.3 billion), beating estimates by 980 million yuan.
Its adjusted net income increased 39% to 4.3 billion yuan ($656 million), or 12.38 yuan per ADS -- which beat expectations by 1.63 yuan. Its adjusted EBITDA more than doubled to 5.9 billion yuan ($901 million).
Baidu expects its revenue to rise 14%-25% year over year in the second quarter. That forecast doesn't include any potential gains from its planned purchase of JOYY's live streaming platform, YY Live.
Source Fool.com