Chinese AI Pioneer Baidu Posts Biggest Sales Fall Since 2022 [Yahoo! Finance Canada]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
Last baidu, inc. - american depositary shares, each representing 8 ordinary share earnings: 2/27 04:30 pm
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Source: Yahoo! Finance Canada
(Bloomberg) -- Baidu Inc. recorded its biggest revenue drop in more than two years after China's economic malaise undermined its push into generative AI. Most Read from Bloomberg Revenue for the three months ended September slipped 3% to 33.6 billion yuan ($4.6 billion), in line with analysts' projections. Net income came to 7.6 billion yuan. Its shares fell more than 2% in pre-market US trading. China's internet search leader has much to prove with its AI-first growth strategy, which has delivered underwhelming returns to far. The company hopes its Ernie artificial intelligence model — now handling 1.5 billion daily queries — could become the game-changer for businesses like search and the cloud, but it will take time for monetization to fully kick in. Its Ernie Bot has fallen behind ByteDance Ltd.'s Doubao in China usage, while the core business is losing eyeballs to newer social platforms like Xiaohongshu and Douyin. Its broader AI effort encompasses autonomous vehicles, a
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BIDU
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- 11/21/24 - Beat
BIDU
Sec Filings
- 11/21/24 - Form 6-K
- 10/28/24 - Form 6-K
- 10/8/24 - Form 6-K
- BIDU's page on the SEC website