Revenue for the quarter ended Sept. 30 was 34.45 billion yuan ($4.72 billion), compared with analysts' estimates of 34.33 billion yuan, according to LSEG data.
Baidu has in recent years focused increasingly on AI, creating a self-driving vehicle and investing heavily in generative AI, which is capable of creating text, images and other media.
Baidu's Chief Financial Officer Rong Luo said the firm will continue to prioritise AI investments, especially in generative AI and foundation models, to power its growth.
Baidu's online marketing revenue rose 5% in the third quarter to 19.7 billion yuan.
During the quarter, Baidu reported adjusted net income of 7.27 billion yuan, up 23% from 5.89 billion yuan for the same period last year.
Persons:
Tingshu Wang, Ernie, Rong Luo, Luo, Alibaba, Yuvraj Malik, Varun H, Miral Fahmy, Sharon Singleton
Organizations:
Baidu, REUTERS, HK, Tuesday, International Monetary Fund, Nvidia, Reuters, Huawei, Thomson
Locations:
Beijing, China, Washington, Bengaluru, Yelin Mo