Baidu profits slow in ‘transformation year’ but top estimates - MarketWatch
1. Baidu's core profits declined due to slowing online marketing revenue. 2. Non-GAAP earnings fell 13% to 6.71 billion yuan amid revenue decline. 3. Baidu's AI cloud business shows growth; executives state transition to AI-first. 4. Stock underperformed peers, with shares slipping 2% in premarket. 5. Analysts expected better earnings than reported, indicating potential concerns.