China's Baidu announces $5b share buyback after beating revenue estimates

China's Baidu announces $5b share buyback after beating revenue estimates

FILE PHOTO: A logo of Baidu is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song

China’s Baidu Inc beat revenue estimates for the fourth quarter on Wednesday, bolstered by strength in its advertising, cloud and artificial intelligence businesses.