Baidu Stock Jumps as China’s Google Delivers Huge Earnings Beat

Baidu stock jumped on Tuesday after the tech giant, China’s answer to Google, smashed analysts’ earnings expectations.

Baidu is due to report earnings on Tuesday against a market backdrop that could divide investors in the Chinese tech giant. The stock is simultaneously a hot artificial intelligence play and exposed to a slowdown in the world’s second-largest economy. Sometimes billed as China’s answer to Google, Baidu is a sprawling tech company with a core focus on online search and advertising, though it also has units devoted to driverless taxis, cloud computing, and artificial intelligence. Baidu was early to position itself as a Chinese AI play, announcing an “Ernie” chatbot to rival the likes of ChatGPT.

Investors will have to parse both trends when they digest the results, due Tuesday before the opening bell. Of course, it’s also possible that the numbers may not matter all that much.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stock Market: Most stock markets rise on technology stocks recoveryThe Asian stock markets experienced an uptick on Tuesday propelled by the rebound of technology stocks. However, concerns regarding the tightening of
Source: FXStreetNews - 🏆 14. / 72 Read more »