Baidu's core marketing business faced headwinds and saw a 2% year-over-year decline, but AI and autonomous driving helped cover that loss.
Baidu's AI initiatives, particularly in cloud services, are proving to be effective growth drivers. Despite challenges in its core advertising business, AI-related revenue is helping to keep the company on a positive trajectory.
Apollo Go autonomous ride-hailing service provided about 899,000 rides from April through June, up 26% from a year earlier.
Adjusted earnings per share decreased 7% year-over-year while revenue was flat compared to the same quarter in 2023.
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