IndusInd Bank posts 193 pc jump in Q4 net profit at Rs 926 cr
Net interest income (NII) rose by 9 per cent year-on-year to Rs 3,535 crore in Q4 of FY21.
Chinese search engine and AI tech firm Baidu on Friday reported total revenues of 107.4 billion yuan (about $15.4 billion) in 2019, representing a 5 per cent year-on-year (YoY) growth.
The Nasdaq-listed company raked in 28.9 billion yuan in the fourth quarter of 2019, with Non-GAAP net income attributable to Baidu surging 95 per cent to 9.2 billion yuan compared with the same period of 2018.
Herman Yu, CFO of Baidu noted company’s improvement in its quarterly operating margin and said, “Baidu delivered solid fourth-quarter results with increasing year-over-year revenue growth rate.”
Advertisement
In December last year, Baidu App’s average daily active users (DAUs) reached 195 million, up 21 per cent year on year, Xinhua news agency reported on Friday.
“Baidu’s new AI businesses have also made great strides in 2019, as we built leadership in smart devices, smart transportation and enterprise cloud solutions with Baidu’s leading AI technologies,” said Robin Li, chairman and CEO of Baidu.
The company expects a 5-per cent to 13-per cent year-on-year decline of revenue in the first quarter of 2020 to between 21 billion yuan and 22.9 billion yuan.
(With input from agencies)
Advertisement
