In spite of sluggish advertising, AI operations provide ‘a solid foundation for sustainable long-term growth’, Baidu CFO He Haijian says.

Chinese internet search giant Baidu on Tuesday reported a 50 per cent increase in artificial intelligence-related revenue in the three months ended September from a year ago, which was the bright spot to an otherwise lacklustre financial quarter. The Beijing-based company’s third-quarter revenue declined 7 per cent year on year to 31.2 billion yuan (US$4.4 billion), owing to sluggish demand in its advertising business, while its net loss hit 11.2 billion yuan on asset writedowns. While its core…

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