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Benzinga
  • 3 years ago
Chinese tech company Baidu has reported Q2 revenue exceeding expectations, marking a 15% YoY increase, driven by advertising growth. The 15% growth represents the swiftest quarterly YoY expansion in two years. Core business areas, such as online marketing, saw a 15% revenue uptick to 19.6 billion yuan, while non-online marketing revenue rose by 12% to 6.8 billion yuan. Non-GAAP earnings per American Depositary Share were 22.55 yuan, compared to 15.79 yuan the previous year. Baidu's CEO, Robin Li, highlighted strong online marketing performance and the potential of generative AI and large language models in various industries.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Chinese tech company Baidu has reported Q2 revenue exceeding expectations, marking a
00:07 15% year-over-year increase driven by advertising growth.
00:12 The 15% growth represents the swiftest quarterly year-over-year expansion in two years.
00:17 Core business areas such as online marketing saw a 15% revenue uptick to 19.6 billion yuan,
00:22 while non-online marketing revenue rose by 12% to 6.8 billion yuan.
00:27 Non-GAAP earnings per American depository share were 22.55 yuan compared to 15.79 yuan
00:34 the previous year.
00:36 Baidu's CEO Robin Li highlighted strong online marketing performance and the potential of
00:40 generative AI in large language models in various industries.
00:46 [BLANK_AUDIO]
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