Baidu Reports 6% Revenue Growth in Q4, Boosted by AI and Advertising

The Chinese tech giant's AI investments, including its ERNIE Bot, begin to show promise as it navigates a challenging economic landscape.

Baidu's fourth-quarter revenue rose to 34.95 billion yuan ($4.92 billion), with a 44% increase in adjusted net income.
ERNIE Bot, Baidu's ChatGPT-like service, has attracted over 100 million users and is starting to contribute to the company's revenues.
Despite heavy investments in AI, Baidu's net income fell 48% to 2.6 billion yuan in the fourth quarter.
Baidu's online marketing revenue grew by 6%, indicating resilience in its core advertising business amid economic downturns.
The company's shares experienced mixed reactions, with a slight increase in U.S. trading and a decrease in Hong Kong ahead of the earnings release.