Baidu sales beat analysts' estimates in Dec quarter

Hong Kong

BAIDU Inc posted revenue that topped analysts' estimates as the Chinese Internet search provider's investments in mobile begin to bear fruit and attract advertising.

Sales rose 33 per cent to 18.7 billion yuan (S$4.1 billion) in the December quarter from a year earlier, the Beijing-based company said. That beat the average analyst estimate of 18.5 billion yuan, according to data compiled by Bloomberg. Mobile revenue made up 56 per cent of total sales in the quarter, up from 42 per cent a year earlier, Baidu added.