
-
'Don't want to die': Lesotho HIV patients look to traditional medicine
-
Curry scores 37 as Warriors outgun LeBron's Lakers
-
Crops under threat as surprise March heatwave hits Central Asia: study
-
Japan PM says Trump tariffs a 'national crisis'
-
Security 'breakdown' allows armed men into Melbourne's MCG
-
Norris fastest in Japan GP first practice, Tsunoda sixth on Red Bull debut
-
Albon says Thailand taking bid for F1 race 'very seriously'
-
'It's gone': conservation science in Thailand's burning forest
-
Protest as quake-hit Myanmar junta chief joins Bangkok summit
-
EU leaders push for influence at Central Asia summit
-
Asian stocks extend global rout after Trump's shock tariff blitz
-
Lewandowski, Mbappe duel fuelling tight La Liga title race
-
South Korea court upholds President Yoon's impeachment, strips him of office
-
Liverpool march towards title as Man City face Man Utd
-
Finland's colossal bomb shelters a model for jittery Europe
-
Athletes frustrated as France mulls Muslim headscarf ban in sport
-
Korda downs Kupcho to stay alive at LPGA Match Play
-
German industry grapples with AI at trade fair
-
Irish school trains thatchers to save iconic roofs
-
'Frightening': US restaurants, producers face tariff whiplash
-
Cuba looks to sun to solve its energy crisis
-
Experts warn 'AI-written' paper is latest spin on climate change denial
-
PSG eye becoming France's first 'Invincibles'
-
Late birdie burst lifts Ryder to Texas Open lead
-
Five potential Grand National fairytale endings
-
Trump purges national security team after meeting conspiracist
-
More work for McIlroy even with two wins before Masters
-
Trump hopeful of 'great' PGA-LIV golf merger
-
No.1 Scheffler goes for third Masters crown in four years
-
Where Trump's tariffs could hurt Americans' wallets
-
Trump says 'very close to a deal' on TikTok
-
Trump tariffs on Mexico: the good, the bad, the unknown
-
Postecoglou denies taunting Spurs fans in Chelsea defeat
-
Oscar-winning Palestinian director speaks at UN on Israeli settlements
-
With tariff war, Trump also reshapes how US treats allies
-
Fernandez fires Chelsea into fourth as pressure mounts on Postecoglou
-
South Korea court to decide impeached president's fate
-
Penguin memes take flight after Trump tariffs remote island
-
E.T., no home: Original model of movie alien doesn't sell at auction
-
Italy's Brignone has surgery on broken leg with Winter Olympics looming
-
Trump defiant as tariffs send world markets into panic
-
City officials vote to repair roof on home of MLB Rays
-
Rockets forward Brooks gets one-game NBA ban for technicals
-
Pentagon watchdog to probe defense chief over Signal chat row
-
US tariffs could push up inflation, slow growth: Fed official
-
New Bruce Springsteen music set for June 27 release
-
Tom Cruise pays tribute to Val Kilmer
-
Mexico president welcomes being left off Trump's tariffs list
-
Zuckerberg repeats Trump visits in bid to settle antitrust case
-
US fencer disqualified for not facing transgender rival

Baidu reports 5% year-on-year decrease in Q2 revenue
Chinese internet giant Baidu Inc. on Tuesday announced second-quarter revenues of 29.6 billion yuan ($4.3 billion), down five percent from last year after the company faced a challenging economic climate and tight controls on China's once-thriving tech sector.
Other Chinese tech giants, including Tencent and e-commerce behemoth JD.com, had also reported disappointing results in recent weeks.
China's major tech companies have been grappling with economic uncertainty, Covid-19 restrictions that have kept consumers jittery, and heightened scrutiny from regulators in recent months.
Baidu, which operates China's most widely used search engine, saw revenues decrease but posted a net profit of 3.6 billion yuan ($522 million), buoyed by a 31 percent year-on-year growth in its cloud computing business.
"Despite a challenging macro environment caused by Covid-19, Baidu Core generated RMB23.2 billion in revenues in the second quarter," CEO Robin Li was quoted as saying in an official press release.
"Going forward, we remain committed to quality revenue growth and sustainable business models."
Last year, the Beijing-based group reported second-quarter revenue of 31.4 billion yuan ($4.5 billion), up 20 percent year-on-year at the time.
Baidu has heavily diversified into artificial intelligence, cloud computing and autonomous driving technologies in recent years, as advertising revenue remains sluggish.
Li claimed Apollo Go, its autonomous driving arm, further consolidated its position as a leading intelligent ride-hailing provider, with fully driverless taxi services launched in the cities of Chongqing and Wuhan.
Beijing regulators' widespread crackdown on the tech sector, beginning in late 2020, saw record fines, cancelled IPOs and lengthy investigations targeting top players, which decimated revenues and put further pressure on the stalling economy.
The campaign is intended to reduce monopolistic practices and promote competition between internet platforms.
Last week, Alibaba rival JD.com reported its slowest revenue growth to date in the second quarter, after tech giant Tencent reported its first drop in quarterly revenue since going public.
Didi Chuxing, China's answer to Uber, was also fined the equivalent of $1.2 billion last month after a year-long cybersecurity investigation.
Many parts of China have faced lockdowns and other Covid restrictions in recent months, disrupting business activity and adding to consumer worries as Beijing tries to stamp out the Omicron variant's spread under its strict zero-Covid policy.
L.Janezki--BTB