Baidu content minor Drop in money as internet marketing product sales from movie product stay under great pressure
China’s search engine and artificial smart (AI) giant Baidu Inc. (NASDAQ: BIDU) on Thursday posted a 1per cent year over year decline in their total profits to 26 billion yuan (3.69 billion) for 2nd quarter of 2020 ending June 30, falling a little underneath the wall structure Street estimates of $3.7 billion.
Earnings from the Baidu center sector supplying keyword-based promotion and deal treatments attained 18.9 billion yuan, a 3% decline from a year ago, while its website marketing incomes diminished 8% seasons over 12 months.
“Baidu’s new AI businesses, like cloud, wise tools and wise transport, spotted double-digit development in the next quarter and stall to be a significant earnings motorist into the years to come,” said Robin Li, co-founder and Chief Executive Officer of Baidu. Read more