Baidu reports 4 percent revenue drop on weak advertising
Baidu reported a 4 percent revenue drop as advertising weakness offset AI growth. The firm also introduced its first dividend policy and a buyback plan.
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Baidu, Inc. reported a 4% decline in revenue for the December quarter on Thursday, as persistent weakness in its mainstay advertising business overshadowed strong growth in its artificial intelligence and cloud computing segments. The technology giant, a leader in China, has pivoted toward AI to capture rising enterprise demand for automation and productivity tools.
