Baidu has reported its third-quarter financial results for 2024, with total revenue decreasing by 3% from the same period last year to 33,557 million yuan. The company also recorded a net profit of 7,632 million yuan.
CEO of Baidu, Robin Li, mentioned that the company’s online marketing business was impacted, leading to a decrease in revenue for this segment. However, this was offset by the growth in the AI Cloud business, whether it be the ERNIE model or the Apollo Go autonomous vehicle platform.
Baidu highlighted that in November alone, the ERNIE model was accessed through API approximately 1.5 billion times per day, compared to 600 million times in August. Additionally, the Apollo Go platform provided ride-hailing services 988,000 times in the past quarter, with a total of over 8 million ride-hailing services since its inception.
Source: Baidu
TLDR: Baidu’s third-quarter financial results for 2024 show a 3% decrease in total revenue, attributed to the impact on the online marketing business, while the AI Cloud segment, including the ERNIE model and Apollo Go platform, experienced significant growth.
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