Baidu reports Q3 2024 revenue down 3%, but AI Cloud and autonomous driving services show growth.

Baidu, a major AI and internet company, reported Q3 2024 financials with overall revenue down 3% to $4.78 billion. Despite a 4% drop in online marketing revenue, the AI Cloud business saw a 12% increase, ranked top for the fifth year. Baidu's autonomous ride-hailing service, Apollo Go, grew 20% year-over-year, offering 988,000 rides. Net income increased 14% to $1.1 billion, driven by cost control and AI growth.

November 21, 2024
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