China's Baidu Q2 Earnings: AI Cloud Expansion, Driverless Tech Breakthroughs, And Baidu Search Overhaul
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https://finance.yahoo.com/news/chinas-baidu-q2-earnings-ai-125749669.html
Baidu, Inc reported its fiscal second-quarter revenue, which was flat year-on-year at $4.67 billion, missing the analyst consensus estimate of $4.70 billion. The company's AI Cloud business and driverless technology advancements drove growth, with the AI Cloud business growing 10% year-over-year. The company's adjusted earnings per ADS beat analyst estimates, and its adjusted EBITDA margin remained firm at 27%. The company's CEO, Robin Li, highlighted the company's focus on AI Cloud and driverless technology, and the company's plans to fast-track the renovation of its search engine.