Baidu’s revenue beats as ChatGPT-style AI starts monetization

News Snapshot:

(Bloomberg) — Baidu Inc.’s results beat estimates after China’s internet search leader expanded into new businesses such as AI to shield itself from an economic downturn. Most Read from Bloomberg Sales grew 6% to 34.4 billion yuan ($4.8 billion) from July to September, versus the 34.2 billion yuan projected by analysts. Net income came to 6.7 billion yuan in the September quarter, versus the 4.4 billion yuan expected. Baidu’s results may help assuage concerns about the world’s biggest internet arena after years of Covid-era malaise. Investors worry that the Chinese economy is in danger of entering a deflationary spiral, a...