Baidu Earnings: Results Beat; Kunlunxin on Track for IPO in Hong Kong in Second Half
In the first quarter, Baidu's non-GAAP EBIT fell 29% year on year due to a decline in the search business but grew 28% sequentially to CNY 3.8 billion thanks to acceleration in the artificial intelligence-powered businesses. Baidu thinks Kunlunxin is on track to list in Hong Kong by August.