Will Gen AI Propel Baidu? Chinese Tech Titan's Q2 Revenue Soars

Benzinga 2023-08-23

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Chinese tech company Baidu has reported Q2 revenue exceeding expectations, marking a 15% YoY increase, driven by advertising growth. The 15% growth represents the swiftest quarterly YoY expansion in two years. Core business areas, such as online marketing, saw a 15% revenue uptick to 19.6 billion yuan, while non-online marketing revenue rose by 12% to 6.8 billion yuan. Non-GAAP earnings per American Depositary Share were 22.55 yuan, compared to 15.79 yuan the previous year. Baidu's CEO, Robin Li, highlighted strong online marketing performance and the potential of generative AI and large language models in various industries.

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