AI Summary
Baidu Inc. reported revenue of 32.1 billion yuan for the last quarter, surpassing analyst expectations. The company is focusing on enhancing its AI services to regain market share lost to competitors like Alibaba.
- Baidu's revenue for the quarter ending in March was 32.1 billion yuan ($4.7 billion), exceeding the average forecast of 31.5 billion yuan.
- The company's net income for the same period was 3.45 billion yuan.
- Following the earnings report, Baidu's shares increased by over 3% in pre-market trading in the US.
- Baidu is working to improve its AI services to compete more effectively against rivals such as Alibaba Group.
baiduai servicesrevenuemarket competitionalibaba