Baidu's Revenue Slides for Third Straight Quarter
Chinese tech giant Baidu posts Q4 revenue down 4% YoY with profits cratering 66%, badly missing estimates.
Baidu can't stop the bleeding. The Chinese search and AI giant just posted its third consecutive quarter of declining revenue, with Q4 coming in at roughly $4.8 billion — a 4% drop year-over-year.
The profit picture is even uglier. Net income plummeted 66% compared to the same period last year, landing at approximately $259 million. That badly missed analyst expectations of around $374 million.
Three straight quarters of shrinking revenue is a rough streak for any tech company, let alone one that's been betting heavily on AI to drive its next growth phase. The numbers paint a clear picture: Baidu's core business is under sustained pressure.
Wall Street expected a hit to the bottom line. It just didn't expect one this severe. The profit miss underscores how challenging conditions remain for Baidu heading into the new year.