China's Baidu posts 24.4 percent rise in quarterly revenue

© Reuters. FILE PHOTO: Members of staff work at the Baidu booth during Global Mobile Internet Conference (GMIC) at the National Convention in Beijing

(Reuters) – China’s Baidu Inc (O:) reported a 24.4 percent rise in quarterly revenue on Tuesday, driven by gains in the internet search firm’s online ad business.

Net income attributable to Baidu rose to 6.4 billion (716.47 million pounds) in the second quarter ended June 30, or 18.14 yuan per American depositary share (ADS), from 4.42 billion yuan, or 11.31 yuan per ADS, from a year earlier.

Total revenue rose to 25.97 billion yuan from 20.87 billion yuan.

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