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Baidu.com (NASDAQ:BIDU), the Chinese search engine and artificial intelligence group listed on Nasdaq, rose nearly 5% in premarket trading on Monday after first-quarter results showed its fast-growing AI cloud business more than offsetting a sharp decline in its traditional advertising...
Baidu stock climbed higher early Monday after the Chinese search engine company reported first-quarter results ahead of analyst expectations. Baidu said that it earned an adjusted 12.06 yuan per American depositary share for the March quarter, down 34% from a year earlier. Often compared to Google, Baidu was one of the quickest Chinese tech companies to embrace AI.
It’s a quite week on the earnings front, but all eyes will be on Nvida who are due to report on Wednesday after the closing bell. Other big names reporting this week include Walmart, Home Depot, Target and Baidu.
Baidu stock was rising even as the Chinese internet company’s profit tumbled, with the focus on AI progress.
Investing.com -- Baidu shares rose more than 2% in premarket trading Monday after the Chinese internet giant reported first-quarter revenue and earnings that topped analyst expectations, with its AI-powered business emerging as a key growth driver.
The Chinese search-engine operator recorded another sharp profit drop and a fourth straight quarter of revenue declines.
Alibaba earnings are expected to show falling profit as it invests in artificial intelligence and food delivery.
Kunlunxin is pursuing a Shanghai STAR Board IPO alongside its separate Hong Kong listing plan.
(Bloomberg) -- China has suspended issuing new licenses for autonomous vehicles, according to people familiar with the matter, after dozens of Baidu Inc.’s Apollo Go robotaxis suddenly stopped in Wuhan last month, stranding passengers and disrupting traffic. Most Read from BloombergUAE Quits OPEC as War Upends Oil Markets and Gulf Tensions RiseNorth Korea Confirms Suicide Rule for Soldiers Ukraine CapturesTrump Being ‘Humiliated’ in Iran Talks, German Leader SaysSergey Brin Confronted Gavin News
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