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Bloomberg

Baidu reported a smaller slide in revenue than analysts were projecting and gave a more optimistic forecast for the current quarter.
Sales at the Chinese internet search giant slid 7 per cent to 22.5 billion yuan (US$3.2 billion) in the March quarter, compared with the 21.9 billion yuan average of analysts’ estimates. It forecast a revenue growth rate of -5 per cent to 4 per cent in the current period.
“With the pandemic coming under control in China, offline activities are rebounding and Baidu stands to benefit from a restart of the Chinese economy,” company co-founder and chief executive Robin Li Yanhong said in a statement.
Baidu’s shares jumped 10 per cent in extended trading in New York on Monday.
Baidu invests US$70.5 million in live streaming amid coronavirus-led boom
Baidu’s performance shows how its investments on content designed to ward off rivals like Tencent Holdings and ByteDance are beginning to bear fruit.
The Beijing-based search company has tried to diversify its advertising revenue sources partly because those two social media rivals had begun to siphon off clients to more interactive formats like ByteDance’s Douyin, the local equivalent of TikTok.
Once the runaway leader in desktop search, Baidu is now struggling to stay relevant in the mobile era. To fend off ByteDance, the company is planning to offer subsidies to influencers and direct more traffic to them across its family of apps, including in live streaming.
Longer term, Baidu is investing in artificial intelligence technology, and betting on the commercialisation of that through smart speakers and self-driving cars.
Baidu to build self-driving test facility in Chongqing
The company was awarded contracts in March from local governments in cities, including Chongqing and Hefei, to build smart transport infrastructure such as road sensors, part of China’s drive to spur the economy through investments in technology.
Oversight by Beijing remains a problem. In April, Chinese regulators suspended some key channels in Baidu’s flagship mobile app, citing vulgar content.
That two-week punishment could reduce revenue from its core search and feed business in the June quarter by under 2 per cent, according to an estimate by Jefferies analyst Thomas Chong.



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Baidu weathers Covid-19 slump better than expected, sees rebound

The logo of Chinese internet search giant Baidu is seen at the company's headquarters in Beijing on May 18. Photo: Reuters

Baidu employees wearing face masks are seen next to the company’s artificial intelligence robot at the Chinese internet search giant’s headquarters in Beijing on May 18. Photo: Reuters

Tencent, Baidu gain ground on Alibaba as China’s cloud market expands at rapid pace

Teacher Wang Guanxin of the ITutorGroup instructs other teachers how to teach online in Shanghai. Educational services are moving online amid the coronavirus health crisis, giving a boost to the cloud market. Photo: AFP

Smart speaker market slows down in coronavirus-hit China after record 2019 shipments

Baidu’s newest smart speaker, the Xiaodu Zaijia X8, was launched in December. Baidu, Alibaba Group Holding and Xiaomi Corp are three of the world’s biggest vendors of smart speakers. Photo: Handout

Did Baidu really do better than Google’s Waymo in California’s self-driving report? 

Baidu launched its robotaxi services in Changsha, capital of Hunan province, with a fleet of 45 cars on  September 26, 2019. (Picture: Baidu)

A Waymo self-driving car cruising on a street in Silicon Valley. (Picture: Shutterstock)

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The China AI Report is based on the technology team’s in-depth reporting of developments in the artificial intelligence sector over the past few years. Photo: SCMP

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The Chinese internet search giant has moved to diversify its advertising revenue sources amid stiff competition from Tencent and ByteDance
Once the runaway leader in desktop search, Baidu is now struggling to stay relevant in the mobile era



The Chinese internet search giant’s first-quarter performance shows how its investments on content designed to ward off rivals like Tencent Holdings and ByteDance are beginning to bear fruit.


Baidu weathers Covid-19 slump better than expected, sees rebound

The Chinese internet search giant has moved to diversify its advertising revenue sources amid stiff competition from Tencent and ByteDance Once the runaway leader in desktop search, Baidu is now struggling to stay relevant in the mobile era

The Chinese internet search giant has moved to diversify its advertising revenue sources amid stiff competition from Tencent and ByteDance

Once the runaway leader in desktop search, Baidu is now struggling to stay relevant in the mobile era