Baidu’s Sales Stall as It Struggles to Cash in on AI
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Baidu Inc.’s revenue dipped, reflecting the difficulties of transitioning from search ads to AI during China’s economic downturn.
Revenue for the three months ended June dropped 0.4% to 33.9 billion yuan ($4.7 billion), compared with projections for 34.1 billion yuan. Net income came to 5.5 billion yuan, versus an estimated 5.06 billion yuan. Baidu’s shares fell about 1% in pre-market trading in New York.