Baidu’s Revenue Slides After Chinese AI Rivalry Heats Up
Baidu Inc. reported a smaller-than-expected revenue drop, alleviating concerns its internet search and artificial intelligence businesses are buckling under fierce competition.Revenue for the three months ended December shrankBloomberg Terminal 2% to 34.1 billion yuan ($4.7 billion), versus an average estimate of 33.4 billion yuan. Net income for the same period came to 5.2 billion yuan, compared with a projected 3.92 billion yuan....
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