(Yicai Global) May 27 -- Chinese internet service companies that generate at least CNY20 million (USD3 million) in annual revenue ended months of falling profits in April as the nation began to recover from the impact of Covid-19, according to figures published today by the Ministry of Industry and Information Technology.

The nation’s big internet firms earned a total operating profit of CNY32.7 billion (USD4.6 billion) in the first four months, the ministry said, marking a 4.8 percent gain over the same period a year earlier and flipping a near 24.5 percent first-quarter slide on its head.

Total revenue over the period was CNY345 billion, up 4.8 percent over the first four months annually. That was 3.4 points better than the first quarter figure but still 29.1 percentage points worse than growth a year earlier.

Research expenses from January through April were CNY17.3 billion, up 5.3 percent -- 5.3 points higher than the first quarter but 16.1 points down from the year-ago period.

Editor: James Boynton