Chinese tech giant Baidu reported a 2% yearly increase to RMB 32.54 billion ($4.57 billion) in revenue in the third quarter of 2022. The figure surprised analysts, according to Reuters. The firm reported a net loss of RMB 146 million in the quarter and RMB 5.89 billion in non-GAAP net income. Non-online marketing revenue was RMB 6.5 billion, up 25% from last year, driven by AI Cloud and other AI-powered businesses. Baidu CEO Robin Li said Baidu’s core business delivered “a solid set of financial and operational results” despite the continued challenges posed by the Covid-19 resurgence, thanks to growth in the online marketing business and AI Cloud. Li added that the company continues to “make significant progress in intelligent driving.” [Baidu, press release]