Newscasts - Baidu fourth-quarter revenue down 2% on advertising dip

IQIYI

18/02/2025 14:23

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_ekbyrrdr&referenceId=tag:reuters.com,2025:newsml_RW236418022025RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: Chinese search engine giant Baidu reported a 2% drop in quarterly
revenue, dragged down by a slowdown in the advertising business, though offset
by gains from cloud AI. Francis Maguire reports.
Short Link: https://refini.tv/3X2b3w3

Video Transcript:

Baidu reported a 2% drop in quarterly revenue on Tuesday. The Chinese Search
Engine giant saw its numbers dragged down by a slowdown in the advertising
business, though that was offset by gains from Cloud AI. The company reported
revenue of $4.69 billion for the three months through December above analyst
projections. Baidu has faced challenges as small businesses in China have cut
their advertising spending. That's due to a struggling economy and prolonged
property market slump. Baidu's online marketing business outside its iQIYI
streaming service was down 7%. The company offset losses in its online
marketing business through the growth of its AI Cloud segment, which grew by
more than a quarter year over year. Baidu has ramped up its push into AI over
the past years as it tries to lower its reliance on advertising revenue from
its core search engine business. Baidu was among the first to launch a Chat
GPT style chat bot two years ago called Ernie. It claims its current 4.0
version matches Open AI's GPT four. However, the Ernie large language model
has struggled to gain widespread adoption due to intense competition, and it
faces a strong challenge from Chinese startup Deep Seek. Baidu has recently
announced plans to open source its next generation models, and the Tech Giant
aims to offer premium chatbot services free from April