"Baidu (BIDU) stock climbed higher early Monday after the Chinese search engine company reported first-quarter results ahead of analyst expectations. The company touted the growth of its AI cloud offering as its advertising business continued to slow."
"Baidu said that it earned an adjusted 12.06 yuan per American depositary share for the March quarter, down 34% from a year earlier."
Baidu stock rose early Monday after the company reported first-quarter results that beat analyst expectations. The company emphasized growth in its AI cloud offering while noting continued slowing in its advertising business. For the March quarter, Baidu reported adjusted earnings of 12.06 yuan per American depositary share. That figure represented a 34% decline compared with the prior year. The results combined stronger performance in AI cloud with weaker advertising trends, shaping investor reaction to the earnings report.
Read at Investor's Business Daily
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