fazon1 Over the course of the second quarter (Q2) of the calendar year, a number of institutional investors - with Scion Asset Management run by Michael Burry of "The Big Short" fame finding particular mention in the media - loaded up on shares of China search giant Baidu, Inc. (NASDAQ:BIDU) as it floundered. The stock has notably not been doing well over the course of the Year Till Date (YTD), and its Q2 earnings were decidedly mixed: while revenue did drop on a quarter-on-quarter basis by 0.4%, it deliver ...

Recently, investors have had the chance to gain insight into the portfolios of Wall Street’s mega investors, from Warren Buffett and his multi-billion dollar positions and portfolio shifts to Michael Burry and his not-so-contrarian value investments. Michael Burry directly goes against popular culture and opinion by allocating some of his capital to Chinese stocks.Valuations have been kept compressed for China’s stock market, as geopolitical risks and fears of investing in overseas markets have caused inves ...

Robin Li, chairman and CEO of Baidu, speaks at the opening ceremony of the 2021 World Artificial Intelligence Conference in Shanghai in July 2021.Wu Jun/VCG via Getty ImagesChinese search giant Baidu’s core advertising business shrank in the second quarter, a trend that analysts say may continue for the rest of this year amid China’s sluggish economic recovery and the company’s struggle to monetize its own artificial intelligence technologies.Shares of the dual-listed firm plunged as much as 7% in Hong Kong ...

Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles.BEIJING — Chinese tech company Baidu is reporting slower growth in its Apollo Go robotaxi rides than in prior quarters.Figures Baidu reported Thursday showed the number of robotaxi rides operated publicly grew by 26% year-on-year in the first half of the year to a monthly average of 287,500 rides, according to CNBC calculations.That's down sharply from year-on-year growth of 184% in the first ...

23 Aug 2024 CMB International Global Markets | Equity Research | Company Update Baidu (BIDU US) More aggressive in Gen-AI empowered ads business transformation Baidu announced (22 Aug) its 2Q24 results: revenue was RMB33.9bn, down 0.4% YoY and largely in line with Bloomberg consensus; non-GAAP net income was RMB7.4bn, 9% better than consensus, thanks to better-than-expected sales and marketing expense control. Baidu is becoming more determined in driving user experience improvement, guiding to aim for a fur ...

The company posted fairly unexciting and not particularly inspiring second-quarter results.Flat top-line quarterly growth and operating in a relatively sluggish economy put the hurt on Baidu (BIDU -4.40%) stock Thursday. The veteran Chinese tech company's American depositary shares (ADSs) declined by more than 4% following its latest quarterly earnings hitting the news feeds. By comparison, the S&P 500 index fell by a relatively light 0.9% on the day.Top- and bottom-line declines in the second quarterFor it ...

Baidu, Inc. (NASDAQ:BIDU) Q2 2024 Earnings Conference Call August 22, 2024 8:00 AM ET Company Participants Juan Lin - Director, Investor Relations Robin Li - Co-Founder & Chief Executive Officer Rong Luo - Chief Financial Officer Dou Shen - Executive Vice President, AI Cloud Group Conference Call Participants Alex Yao - JPMorgan Gary Yu - Morgan Stanley Lincoln Kong - Goldman Sachs Thomas Chong - Jefferies Miranda Zhuang - Bank of America Securities Alicia Yap - Citigroup Wei Xiong - UBS Operator Hello, and ...

Baidu Announces Second Quarter 2024 Results Baidu, Inc. BEIJING, China, Aug 22, 2024 – Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced its unaudited financial results for the second quarter ended June 30, 2024. "AI Cloud continued to accelerate in the second quarter, offsetting the ongoing macro headwinds for online marketing revenue and resulting in modestly positive topline gr ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Unsplash/CC0 Public Domain Chinese internet giant Baidu posted flat second-quarter revenue on Thursday, as an uncertain economic outlook in the country weighs on household consumption. Baidu, which operates China's top search engine, derives a large part of its sales from advertising -- a sector vulnerable to slumps i ...

Exhibit 99.1 Baidu Announces Second Quarter 2024 Results BEIJING, China, Aug 22, 2024 — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced its unaudited financial results for the second quarter ended June 30, 2024. "AI Cloud continued to accelerate in the second quarter, offsetting the ongoing macro headwinds for online marketing revenue and resulting in modestly positive topline g ...