By Clarence Leong


Baidu Inc.'s third-quarter net loss narrowed significantly as revenue strengthened, thanks to growth at its businesses outside online marketing.

The Chinese search-engine company said Tuesday that its quarterly loss was 146 million yuan ($20.4 million), compared with a CNY16.56 billion net loss a year earlier, when it recorded a significant noncash loss in long-term investments.

Baidu's non-GAAP net income, the company's preferred metric, increased 16% to CNY5.89 billion.

Revenue rose 1.9% to CNY32.54 billion, driven by a 25% expansion in its nononline marketing segment, which offset a 4% decline in online-marketing revenue. Still, its online-marketing business showed improvement on a sequential basis, rising 10% from the second quarter.

Baidu will "continue to focus on quality revenue growth," Chief Financial Officer Rong Luo said. "At the same time, we will keep investing in technology and talents to propel our future development."


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

11-22-22 0450ET