Baidu posts flat quarterly revenue as sluggish economy slowed advertising

Baidu's second-quarter revenue of $4.7 billion showed a slight dip of 0.4%, attributed to sluggish economic conditions impacting advertising spending, despite a rise in net income.

The company's non-marketing operations grew by 10% year-on-year, largely driven by the progress in its AI Cloud business, exemplifying Baidu's focus on innovation amid economic challenges.

Robin Li emphasized the robust development of Baidu's AI technologies, noting the rapid adoption of applications built on their Ernie model, which addresses real-world issues and creates value.

Baidu's CFO highlighted ongoing strong momentum within its AI Cloud business, powered by the Ernie LLM family, indicating a strategic pivot towards generative AI technologies.

Read at South China Morning Post