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Net income for the second quarter fell to 2.3B yuan, missing the 3.42B yuan estimate. Adjusted profit per American depositary share was 7.22 yuan, trailing the 9.75 yuan expectation. These results underscore a struggle to keep pace with competitors in the artificial intelligence race.
AI Cloud Infrastructure sales rose 50% year over year to 7.3B yuan, though Baidu General Business revenue dropped 4% to 25.2B yuan. Total revenue of 31.33B yuan represents the fifth consecutive quarterly decline for the search leader. Adjusted Ebitda reached 6.15B yuan, beating the 5.81B yuan forecast.
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