SHANGHAI: Chinese Internet giant Baidu has posted its first quarterly loss since going public in 2005, and the head of its core search business resigned as the company struggles to grow sales.
Revenue was up 15 per cent but rising costs bit into the bottom line of a company that already is pouring huge sums into a push to reposition itself as a leader in advanced technologies such as artificial intelligence . Baidu, headed by co-founder and CEO Robin Li, said that Hailong Xiang, its senior vice president for the search business, had resigned after 14 years with the company.
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