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Baidu posts third-quarter profit just shy of 3b yuan

ZDNet

Baidu has released its third-quarter financial results, announcing an operating profit of 2.787 billion yuan, up 11 percent year on year. The Chinese search engine giant reported total revenue of 18.253 billion yuan for the third quarter of 2016, with online marketing revenues decreasing by 6.7 percent over last year to come in at 16.49 billion yuan. The partnership combines Nvidia's self-driving computing platform with Baidu's cloud and mapping technology to develop an algorithm-based operating system capable of powering complex navigation systems in autonomous vehicles. In the three months to September 30, 2016, Baidu spent 2.614 billion yuan on research and development.