Baidu Posts Biggest Sales Decline in Two Years During Downturn [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. 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. Baidu is among the companies most vulnerable to China's downturn, as its key advertisers span industries from a
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BIDU
Earnings
- 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