Baidu, China's internet search leader, reported Q3 2023 financial results with total revenues of RMB 34.4 billion ($4.72 billion) and non-GAAP net income of RMB 7.3 billion ($996 million), exceeding market consensus. The results beat estimates as the company expanded into new businesses such as AI, with revenue up 6% year-on-year to around $4.8 billion and net income of around $940 million. Baidu's shares rose 2% after the revenue beat, and the company reiterated its commitment to invest in artificial intelligence to spur future growth, emphasizing technological enhancements and product improvements in generative AI and foundation. The strong performance is seen as a positive sign for the Chinese economy, with Baidu's advertising income strengthening amid signs of economic recovery.
WATCH: China's top search engine Baidu is doing better than expected, and that might be a good sign for the country's economy https://t.co/vWE989yCao https://t.co/gQ6DI3cG7o
China's top search engine Baidu is doing better than expected, and that might be a good sign for the country's economy https://t.co/68n9JWQeUM https://t.co/prqzAAdFgO
WATCH: China's Baidu beat third-quarter revenue estimates, helped by stronger advertising income as the Chinese economy shows signs of recovery https://t.co/vWE989y4kQ https://t.co/3lSAy29mxB
Chinese tech giant Baidu beat third-quarter revenue estimates and reaffirmed its commitment to invest in artificial intelligence to power future growth https://t.co/68n9JWQMKk https://t.co/Njl0FFcH0o
Chinese tech giant #Baidu reported better-than-expected Q3 earnings, reaffirmed investment in AI https://t.co/t1ISK9deAO
WATCH: Chinese tech giant Baidu beat third-quarter revenue estimates and reaffirmed its commitment to invest in artificial intelligence to power future growth https://t.co/vWE989y4kQ https://t.co/kxOxwLVOtK
Chinese tech giant Baidu beat third-quarter revenue estimates and reaffirmed its commitment to invest in artificial intelligence to power future growth https://t.co/68n9JWQeUM https://t.co/uVACNxQSTs
Baidu beats Q3 revenue estimates, reiterates AI investment plans to spur growth https://t.co/DWTVvj0Zun
In our Q3 financial report, our revenue reached RMB 34.4 bn ($4.72 bn). Baidu CEO Robin Li expressed, "I am particularly pleased with our continuous technological enhancements and product improvements against the backdrop of emerging opportunities in generative AI and foundation… https://t.co/nPqz2gO77u https://t.co/42qH07dtpZ
Baidu beats Q3 revenue estimates, reiterates AI investment plans to spur growth https://t.co/5CTylv47JY https://t.co/4KeT11zjuR
Baidu exceeds Q3 revenue predictions, boosted by higher ad income https://t.co/jUGMq7LZCD
Baidu reports Q3 revenue up 6% YoY to ~$4.8B and a ~$940M net income, both above est., as its new AI tools shield the company from China's economic downturn (@pingroma / Bloomberg) https://t.co/jlAk2K6oMc 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/Ep0lMyk2Xi
Chinese tech giant Baidu's shares rise 2% after revenue beat https://t.co/xdIolfkuih
Baidu's results beat estimates after China’s internet search leader expanded into new businesses such as AI https://t.co/ydg9bwpe5j
Baidu's results beat estimates after China’s internet search leader expanded into new businesses such as AI https://t.co/sa09MoM8r3
$BIDU We are pleased to announce Q3 2023 financial results: Total revenues of RMB 34.4 bn ($4.72 bn). Non-GAAP net income attributable to Baidu increased by 23% YoY to RMB 7.3 bn ($996 mn). Both revenues and net income exceeded market consensus. More at https://t.co/2cm4O9KRmX
Baidu's results beat estimates after China’s internet search leader expanded into new businesses such as AI https://t.co/9elWZ35yN2
Baidu's results beat estimates after China’s internet search leader expanded into new businesses such as AI https://t.co/uTI0YnyOMC
Baidu’s Earnings Could Bring AI News. Remember Alibaba’s Warning About U.S. Chip Rules. https://t.co/ecgZjxPCzz