Baidu reports 3% third-quarter revenue decline, stock slides [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
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Source: Yahoo! Finance
The company posted revenue of 33.56 billion yuan ($4.64 billion) for the quarter ending September 30, slightly ahead of the 33.43 billion yuan forecasted by analysts polled by LSEG. Net income rose sharply, climbing 14% to 7.63 billion yuan, significantly exceeding the consensus estimate of 4.67 billion yuan. Baidu (NASDAQ:BIDU) highlighted a 12% increase in its non-online marketing revenue, which reached $1.1 billion. This growth was primarily fueled by the expansion of its AI-driven cloud computing business. Baidu is known for its dominance in China's internet search engine market and its widely used mapping application. It also provides cloud computing services, with online marketing contributing a major share of its overall revenue. In the AI space, Baidu has positioned its Ernie chatbot as a homegrown rival to OpenAI's ChatGPT, which remains inaccessible in China. The company recently revealed that Ernie bot now boasts 430 million users. "Baidu Core's flattish third qu
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