(2023 农行)The business announced that revenue had grown by 10
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(2023 农行)The business announced that revenue had grown by 10.2 per cent year-on-year to RMB 18.264 billion ($2.74 billion). However, profit fell to RMB 2,866 ($431.3 million), a
17.4 percent decrease from the same period in 2015.
Robin Li, Chairman and CEO of Baidu, said: “The challenge Baidu faced in the second quarter served a healthy reminder to stay focused on the key driver of growth, sustainability and leadership: delivering the best user experience and staying at the forefront of technology. As we enter the next chapter of the Internet, led by artificial intelligence,
Baidu has never been better positioned to serve our users and work with our customer and partner, and change the world through technology.”
The business has been rocked by a series of high profile issues with its advertising business this year. Baidu was called out for its practices around selling access to forums early this year. Not long after it also agreed to overhaul the way it deliver its search ads, including the volume of ads served, after a huge public backlash saw Baidu taking some of the blame for the death of a student who died after taking experimental cancer treatment that he found from a search ad.
The overhaul has been welcomed by the industry which believes will create a better user experience, particularly on mobile.
The business said the revenue from mobile was growing as it represented 62 percent of total revenues for the second quarter of 2016, compared to 50 percent in 2015. According to Baidu, mobile search monthly active users were 667 million for the month of June 2016, an increase of 6 percent year-over-year. It said users of its mobile maps service grew by 13
percent and the number of activated Baidu Wallet accounts reached 80 million, representing a 131 percent year-on-year growth.
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