{"id":2008018,"date":"2023-08-22T11:57:02","date_gmt":"2023-08-22T15:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-baidu-beats-quarterly-revenue-estimates-cheers-generative-ai-progress\/"},"modified":"2023-08-22T12:00:09","modified_gmt":"2023-08-22T16:00:09","slug":"chinas-baidu-beats-quarterly-revenue-estimates-cheers-generative-ai-progress","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-baidu-beats-quarterly-revenue-estimates-cheers-generative-ai-progress\/","title":{"rendered":"Baidu surpasses revenue expectations, celebrates AI advancements."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchinas-baidu-beats-quarterly-revenue-estimates-cheers-generative-ai-progress%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2008018&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>China&#8217;s Baidu Beats \u200dRevenue Estimates, Focuses on AI<\/h2>\n<blockquote>\n<p>By Akash Sriram and Brenda Goh<\/p>\n<\/blockquote>\n<p>China&#8217;s Baidu Inc exceeded \u200dsecond-quarter revenue expectations,\u200b driven by a rebound in advertising spending following the pandemic. The tech\u200d giant, known\u2062 for operating China&#8217;s largest search engine, plans to further enhance its efforts in generative artificial intelligence\u2064 (AI).<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>With\u2062 the easing of COVID-19 restrictions, businesses have resumed spending on digital advertising, contributing to Baidu&#8217;s revenue growth.\u200c Baidu&#8217;s co-founder and CEO, Robin Li, highlighted the \u200coutperformance of sectors \u2064such as advertising, healthcare, financial \u2063services, local services, and travel, expressing confidence in their continued momentum.<\/p>\n<p>The company&#8217;s U.S.-listed shares saw a 1.2% increase.<\/p>\n<p>Li described Baidu&#8217;s transition towards AI as \u2062a &#8220;paradigm shift,&#8221; emphasizing \u200bthe company&#8217;s investments \u2064in\u2063 autonomous driving and \u2064<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chatgpt-passes-medical-license-exam-bar-exam-after-top-performance-on-wharton-mba-final\/\" title=\"ChatGPT Passes Medical License Exam, Bar Exam After Top Performance On Wharton MBA Final\">large language models<\/a> \u200b(LLM). The success of OpenAI&#8217;s ChatGPT chatbot has fueled global interest in this field.<\/p>\n<p>Baidu\u2062 has integrated its Ernie AI model into various products, \u2064including its search engine, expecting these enhancements to\u200d drive market share\u200d growth.<\/p>\n<p>&#8220;The hard work we&#8217;ve put into generative AI is starting to pay off,&#8221; said Li \u200cduring the\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tencent-shifts-focus-to-majority-deals-overseas-gaming-assets-for-growth-sources\/\" title=\"Tencent shifts focus to majority deals, overseas gaming assets for growth-sources\">post-earnings call<\/a>.<\/p>\n<p>However, Baidu is still awaiting regulatory approval in China for a widespread launch of its Ernie bot,\u2064 similar to ChatGPT. Currently, the chatbot is limited to invite-only tests \u2064since its unveiling in March. Li expressed optimism, noting that authorities\u200c are increasingly supportive of generative AI. China recently published measures to regulate its generative AI industry, providing clarity for\u200b companies like Baidu.<\/p>\n<p>Baidu reported second-quarter revenue of 34.06\u2062 billion yuan ($4.67 billion), <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-baidu-beats-quarterly-revenue-estimates-cheers-generative-ai-progress\/\" title=\"Baidu surpasses revenue expectations, celebrates AI advancements.\">surpassing analysts&#8217; \u200caverage\u2064 estimate<\/a> of 33.28 billion\u200c yuan. Its online marketing revenue increased by 15%\u200b during the quarter.<\/p>\n<p>The company&#8217;s adjusted profit per American Depositary\u200b Share (ADS) was 22.55 yuan, exceeding the previous year&#8217;s profit \u200cof 15.79 yuan per share. This also \u200csurpassed analysts&#8217; \u200baverage estimate of 16.86 yuan per ADS.<\/p>\n<p>($1 = 7.2928 Chinese yuan renminbi)<\/p>\n<p>Reporting by Akash\u200b Sriram in Bengaluru and Brenda Goh\u200c in Shanghai; Editing by Shilpi\u200b Majumdar, Kirsten Donovan, and \u2063Tomasz Janowski<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chinas-baidu-beats-quarterly\/attachment\/file-photo-baidu-sign-is-seen-at-the-world-artificial\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Joe Biden jets off to \u200cHawaii, Trump pays $200,000 in Fulton County and Fat Bottomed Girls get blacklisted.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Trump spokeswoman Liz\u200c Harrington suggests the timing of\u2064 the latest indictment of Donald Trump reeks of collusion.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The death \u2062toll from the Maui wildfires\u200b continues to rise, with at least 111 confirmed fatalities as\u2064 of Friday\u200b while nearly 1,000 others remain missing.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Nebraska Governor Jim \u2064Pillen signs the Opportunity Scholarship\u2063 Act, which <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-falls-to-fourth-place-in-new-hampshire-poll-pres-trump-dominates\/\" title=\"DeSantis slips to fourth in NH poll, Trump prevails.\">commits  million dollars<\/a> in tax credits to\u2064 children across the state.\u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 International Business Machines has agreed to sell its weather business to private equity firm Francisco Partners for an undisclosed sum,\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Akash Sriram and Brenda Goh (Reuters) -China\u2019s\u2064 Baidu \u2064Inc beat second-quarter revenue estimates on Tuesday, helped by \u200ba\u200b post-pandemic recovery in\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BRUSSELS (Reuters) \u2013 EU antitrust regulators will examine whether Microsoft\u2019s proposal to sell its non-EU cloud streaming rights to Ubisoft Entertainment in\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Katie Paul NEW YORK \u2064(Reuters) \u2013 Facebook parent company Meta Platforms on Tuesday released an AI\u2064 model capable of translating and\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Baidu Inc exceeded Q2 revenue expectations, thanks to increased advertising spending following the pandemic. The company plans to focus more on generative AI, capitalizing on the rebound in digital advertising as COVID-19 restrictions ease and the economy recovers.<\/p>\n","protected":false},"author":66,"featured_media":2008019,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2008018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2008018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2008018"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2008018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2008019"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2008018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2008018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2008018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}