AI firm iFlytek net profit up 24.71% in 2018

Source: China Daily

HEFEI - China's major artificial intelligence (AI) company iFlytek registered a net profit increase of 24.71 percent in 2018, the company said Thursday.

The company's net profit reached 542 million yuan ($80.8 million) last year, according to the company's 2018 annual report released on Thursday.

The company's total revenue rose 45.41 percent year-on-year to 7.92 billion yuan, the report said.

Growing business in educational, judicial and healthcare services that the company provided was one of the major contributors to the increase, according to the report.