{
Junjie He

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}

baidu reports revenue drop but exceeds expectations amid ai cloud growth

Baidu reported a 3% decline in third-quarter revenue to $4.78 billion, surpassing market expectations, while net income rose 14% to $1.09 billion, driven by a 12% increase in non-online marketing revenue from its AI cloud business. The company also unveiled Xiaodu AI Glasses, set to launch in the first half of next year, positioning it as a competitor to Meta's Ray-Ban smart glasses. CEO Robin Li emphasized the growing recognition of Baidu's AI capabilities, particularly with the Ernie chatbot, which now has 430 million users.
CNBC
United States Dollar Chinese Yuan Baidu, Inc. CHN Robin Li Junjie He Rong Luo Show more
Finance & Economy, Market Report
10:29 21.11.2024
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