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: technology, baidu inc, breaking news: technology, markets, business news, stock markets, market insider,
Source: https://www.cnbc.com/2024/11/21/baidu-q3-2024-earnings.html