Baidu, a big Chinese tech company like Google, recently released its financial report. While it made more money than expected, its stock price went down! This is because even though their AI (artificial intelligence) projects are doing well, their main business, advertising, isn't growing as fast.
- Baidu's earnings were better than predicted, but sales were slightly lower.
- Their AI cloud business is growing, but advertising revenue decreased.
- Baidu is competing with other big companies in the AI field.
- Baidu's stock price dropped by 7.5% after the report.
| Fact | Number |
|---|---|
| Baidu's earnings per share (adjusted) | 19.18 yuan |
| Baidu's total sales | $4.7 billion |
| Stock price decrease | 7.5% |
| Year-to-date stock increase (before earnings) | 16% |
