(Reuters) -Search engine giant Baidu on Wednesday reported its quarterly revenue rose by 3%, indicating some recovery in the Chinese advertising market.
Revenue in the first quarter stood at 32.45 billion yuan ($4.50 billion), beating analysts’ average estimate of 30.9 billion yuan, according to data compiled by LSEG.
($1 = 7.2067 Chinese yuan renminbi)
(Reporting by Akash Sriram in Bengaluru and Liam Mo in Beijing; Editing by Tasim Zahid)
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