Baidu Stock Declines Amid Lackluster Earnings Report
10
1
BTCCSquare news:
Baidu's American depositary shares fell nearly 3% on Wednesday as investors reacted tepidly to the Chinese tech giant's second-quarter results. Revenue slid 4% year-over-year to 32.7 billion yuan ($4.55 billion), narrowly missing analyst expectations. The company's AI Cloud division showed promise, but adjusted net income still plunged 35%.
CEO Robin Li emphasized the growth potential of Baidu's full-stack AI capabilities, though this failed to offset broader concerns about profitability. The earnings miss comes as global tech investors increasingly scrutinize AI monetization strategies across both traditional and blockchain-based platforms.
By:
