百度：More aggressive in Gen-AI empowered ads business transformation

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 ...