Chinese search engine operator Baidu beat market estimates for fourth-quarter revenue and profit on Thursday, as its core online marketing business stayed resilient and revenue surged in its streaming service iQiyi.
Acne Studios is bidding farewell to three equity funds. In their place, IDG Capital and I.T Group have acquired 41% of the company's capital, while Mikael Schiller and Jonny Johansson remain majority shareholders.
China’s Alibaba lowered its full-year sales forecast on Friday due to concerns about the economic impact of a U.S.-China trade spat, which the company expects will dent revenue ahead of its top sale season.
Traffic growth on Baidu Inc's mobile app helped drive higher-than-expected third quarter revenue as China's biggest search engine operator places more emphasis on artificial intelligence (AI) and autonomous driving.
Chinese search engine Baidu Inc has become the first Chinese company to join an artificial intelligence ethics group led by top U.S. tech firms, amid wider political clashes over AI competition between China and the U.S.
Alibaba Group plans to merge its food delivery units and raise funds for the combined business, intensifying a battle with Tencent-backed Meituan Dianping for dominance of China's booming on-demand services market.
Baidu beat expectations for quarterly profit and revenue on the back of strong growth in its core online advertisement business, easing the pressure of funding a major expansion into new technology areas.