BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth.
Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business.
Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app.
Baidu has promoted its Ernie chatbot as a local alternative to OpenAI's ChatGPT, which isn't available in China.
"AI Cloud continued to show healthy and sustainable development in the third quarter," he said in the earnings release.
Persons:
Robin Li, Ernie, Baidu, Ernie chatbot, Li, Baidu hasn't, Rong Luo, Apollo
Organizations:
Baidu, CNBC
Locations:
BEIJING, U.S, Beijing, China