Baidu earnings beat analyst forecasts on strong online sales

Chinese internet search giant Baidu Inc's quarterly financial earnings topped analysts' forecasts, owing to the growth from its online advertising business.

Baidu's total revenue was 20.9 billion yuan ($3.3 billion) in the first quarter ended March 31, up 31 percent year-on-year, and its mobile revenue represented 78 percent of total net revenue, compared with 70 percent for the first quarter of 2017.

"We had a strong start in 2018, with our core business exhibiting robust growth, and we continue to execute on our strategy to strengthen Baidu's mobile foundation and lead in artificial intelligence," said Robin Li, chairman and CEO of Baidu.