Reported 3 days ago
Baidu Inc. experienced its most significant quarterly revenue drop in nearly three years, with sales falling 4% to 32.7 billion yuan due to an economic downturn and stiff competition in the AI sector. The company's search advertising revenue declined by 15%, while its net income increased by 33% thanks to long-term investments. Despite these challenges, Baidu is investing in AI technologies like the Ernie chatbot and plans to expand its cloud services and autonomous driving projects, although it faces increasing pressure from rivals like Alibaba and Tencent.
Source: YAHOO