Baidu Posts Fifth Straight Quarterly Revenue Decline on AI Transition Bet
Baidu posted a fifth straight quarterly revenue decline, reporting Q2 revenue of 31.3 billion yuan, down 4% year-on-year, and operating income of 3.0 billion yuan, down from 3.3 billion yuan. The company said it is confident its shift to AI services will support long-term growth as AI revenue rose, while online marketing revenue fell amid weak consumer spending.