Chinese AI firm iFlytek profit up over 70 pct in January-September

2019-10-25 13:42

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BEIJING, Oct. 25 (Xinhua) -- Chinese artificial intelligence (AI) firm iFlytek Co. posted strong net profit growth in the first three quarters of this year amid the AI industry development.

In a filing to the Shenzhen Stock Exchange, iFlytek said it reaped a net profit of 373.6 million yuan (52.9 million U.S. dollars) in the nine months, up 70.5 percent year on year.

During the period, its revenue rose 24.4 percent to 6.57 billion yuan.

In the third quarter, its net profit and revenue jumped 108.1 percent and 13.1 percent year on year to 184.1 million yuan and 2.34 billion yuan, respectively.

The company attributed the robust performance to its technology-driven strategy amid the sustainable development of the AI industry.

The company's open-platform business and those for the education and health care sectors continued rapid growth during the period.
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