BIDU Stock Recent News
BIDU LATEST HEADLINES
Baidu reports earnings and revenue above analysts' expectations as the Chinese tech company says its AI technology continues to propel growth in cloud revenue.
China's Baidu beat analysts' estimates for first-quarter revenue on Thursday, driven by a recovery in advertising sales and higher demand for its cloud products.
BEIJING , May 16, 2024 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced its unaudited financial results for the first quarter ended March 31, 2024. "Baidu Core's online marketing revenue remained stable, while the end-to-end optimization of our AI technology stack continued to propel the growth of our AI Cloud revenue during the quarter," said Robin Li, Co-founder and CEO of Baidu.
If that price target is realized, it would mean a 20% gain for investors buying in now. That pundit has also become a bit more cautious about the Chinese internet giant.
Baidu Inc. is exploring a potential collaboration with Tesla Inc. to produce Tesla's self-driving Robotaxi in China. This announcement was made by Xu Baoqiang, the general manager of Baidu's autonomous driving vehicle unit, in a Weibo post on Wednesday.
Chinese search engine behemoth Baidu's stock (NASDAQ NASDAQ : BIDU iShares US Utilities ETF ) is poised to report its Q1 2024 earnings on May 16. We expect Baidu's revenues to come in at $4.34 billion for the quarter, marking a decline of about 1% compared to last year.
The projection comes as Elon Musk has emphasized his plans to build up Tesla's robotaxi efforts amid a decline in revenue.
Baidu's (BIDU) first-quarter results are likely to reflect the benefits of its AI business and growing autonomous driving efforts amid uncertainties in China.
Baidu Inc. (BIDU) concluded the recent trading session at $108.66, signifying a -1.99% move from its prior day's close.
Baidu Inc.'s media relations chief is said to have resigned after posting a string of videos endorsing 24-7 work and making light of staff wellbeing. The executive's comments reverberated across social media in China, where a debate has raged about the demands the tech industry places on its employees.