Chinese AI Firm IFLYTEK's Profit Spikes In First Three Quarters
Sumaira FH 29 days ago Tue 27th October 2020 | 03:00 PM
HEFEI, (UrduPoint / Pakistan Point News - 27th Oct, 2020 ) :Chinese artificial intelligence (AI) firm iFLYTEK Co. Ltd. posted a sharp rise in net profit in the first three quarters of this year amid a boost in development of the AI industry.
28 billion yuan, iFLYTEK said in its quarterly fiscal report.
After recording a loss due to the impact of COVID-19 in the first quarter of 2020, the company bounced back in the second and third quarters as production resumed and many AI-driven businesses were launched, iFLYTEK said.