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Baidu posts 3% drop in third-quarter revenues, beating market expectations - TL;DR CNBC

Baidu posts 3% drop in third-quarter revenues, beating market expectations

Publishing timestamp: 2024-11-21 09:29:07


Summary

Baidu reported better-than-expected revenue and profit for the third quarter, driven by growth in its artificial intelligence cloud business. Despite a 3% drop in revenue, the company's net income rose by 14%. Baidu's U.S.-traded shares fell following the release of its results, but the company remains confident in its AI-focused strategy and long-term trajectory. The company is also expanding its AI cloud business and exploring international expansion for its robotaxi business.


Sentiment: MIXED

Tickers: BIDU

Keywords: technologybaidu incbreaking news: technologymarketsbusiness newsstock marketsmarket insider

Source: https://www.cnbc.com/2024/11/21/baidu-q3-2024-earnings.html


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