Up Next on Rapida

ADVERTISEMENT

Published Date

05/17/2019

Post Owner / Author

geekysky

Post Category

Tech

ADVERTISEMENT

Baidu, China’s reply to Google, reviews first quarterly loss since 2005 – Internet 1

Baidu, broadly seen because the Google of China, felt the warmth from its spending on synthetic intelligence and different next-gen applied sciences which have but to succeed in the mass market because it unveiled troubled first-quarter financials on Thursday.

The corporate logged a internet loss attributable to shareholders of $49 million within the quarter ended March 31, marking the primary quarterly loss because it went public in 2005. That compares to internet revenue of 6.69 billion yuan a 12 months earlier than.

Baidu is the most important search service in China and has reaped enormous rewards from search advertisements within the PC period. However as customers allocate their consideration to new types of cellular companies — notably recommendation-based apps to find content material — Baidu is shedding its attraction.

Xiang Hailong, senior vp of Baidu’s search enterprise, resigned after serving the corporate since 2005, introduced the earnings report. The search big has renamed its search enterprise to a brand new ‘mobile business’.

Baidu’s income for the quarter rose barely to 24.1 billion yuan ($3.5 billion), up 15 p.c year-over-year.

It is a creating story. Verify again for evaluation.

Please complete the required fields.
Flagged Contents are reviewed by Our Moderators 24 hours a day, seven days a week to determine whether they violate Community Guidelines. Accounts are penalized for Community Guidelines violations, and serious or repeated violations can lead to account termination.




Baidu, China’s reply to Google, reviews first quarterly loss since 2005 – Internet 2

How was the Post?

ADVERTISEMENT
ADVERTISEMENT

Contents You May Like

Log In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Login to your account