US-listed shares of Baidu fall after downbeat Q2 revenue
BUZZ-US-listed shares of Baidu fall after downbeat Q2 revenue ** U.S.-listed shares of China's Baidu BIDU.O fall 2.5% to $101.50 premarket
** Baidu 9888.HK reports a 4% decline in revenue to 31.33 billion yuan ($4.65 billion) in Q2, versus analysts' average estimate of 31.96 billion yuan, according to data compiled by LSEG
** Company reports online marketing services segment's total revenue of 13.1 billion yuan, down 19% from a year ago
** "While our online marketing business remains under pressure, the growing momentum in our core AI-powered Business reaffirms Baidu's transition from an internet-centric company to an AI-first company" - Robin Li, co-founder and CEO, Baidu
** Up to last close, the stock is down ~20% this year
($1 = 6.7423 Chinese yuan renminbi)
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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