Baidu Stock Slips. Why China's Leading Search Engine Is Playing Catchup With AI. -- Barrons.com

Dow Jones11-21 18:40

By Brian Swint

Baidu, the operator of the popular Chinese internet search engine, was falling early Thursday even after reporting an earnings beat.

The company's American depositary receipts were down 2.9% at $84.20 in premarket trading. Coming into the session, the shares have fallen 27% this year.

Baidu's results weren't particularly bad--it posted better-than-expected profit on revenues that were in line with what analysts anticipated. But it has failed to shake off problems growing advertising sales--online marketing services, which comprise more than half of revenue, were down almost 6% in the quarter.

The company is still expanding its artificial intelligence cloud computing business, but it hasn't been enough to bolster shares. Other technology firms are still getting a lift from optimism about AI. Shares of Chinese tech rivals such as retailers Alibaba and JD.com, or social site Tencent, have also done much better than Baidu this year.

Write to Brian Swint at brian.swint@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

November 21, 2024 05:40 ET (10:40 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Why China's Leading Search Engine Is Playing Catchup With AI. -- Barrons.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-21 18:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Brian Swint \n\n\n  Baidu, the operator of the popular Chinese internet search engine, was falling early Thursday even after reporting an earnings beat. \n\n\n     The company's American depositary ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4502","symbol_name":"阿里概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2485559465","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485559465","pubTimestamp":1732185600,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Baidu, the operator of the popular Chinese internet search engine, was falling early Thursday even after reporting an earnings beat.The company's American depositary receipts were down 2.9% at $84.20 in premarket trading. 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Coming into the session, the shares have fallen 27% this year. \n\n\n     Baidu's results weren't particularly bad--it posted better-than-expected profit on revenues that were in line with what analysts anticipated. But it has failed to shake off problems growing advertising sales--online marketing services, which comprise more than half of revenue, were down almost 6% in the quarter. \n\n\n     The company is still expanding its artificial intelligence cloud computing business, but it hasn't been enough to bolster shares. Other technology firms are still getting a lift from optimism about AI. Shares of Chinese tech rivals such as retailers Alibaba and JD.com, or social site Tencent, have also done much better than Baidu this year. \n\n\n     Write to Brian Swint at brian.swint@barrons.com \n\n\n     This content was created by Barron's, which is operated by Dow Jones & Co. 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