Baidu – China's Search Giant Bets on AI Agents – Cloud Business Cushions Advertising Weakness!
Reading Time: 3 minutes
Baidu surpasses revenue estimates, but profit is halved. Cloud revenues rise by 79%, while the advertising business remains under pressure. CEO Li bets on AI agents – Robotaxi hurdles and the planned Kunlunxin IPO shape the story. Cloud boom saves the quarter – advertising revenues continue to decline In the quarter ending March 31, Baidu reported revenues of CNY 32.1 billion (approximately $4.7 billion) – a decline of 1.1% year-on-year, but significantly above the analyst consensus of CNY 31.5 billion. This marks the company's fourth...
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