FILE PHOTO: Baidu's logo is pictured at the 2018 Baidu World conference and exhibit to showcase its latest AI technology in Beijing, China, November 1, 2018. REUTERS/Jason Lee/File Photo
Revenue from its online marketing services business, a major contributor to overall sales, rose nearly 3% to 17.66 billion yuan , but missed estimates of $2.66 billion, according to research firm FactSet. Baidu forecast second-quarter revenue of 25.1 billion yuan to 26.6 billion yuan, while analysts had expected 29.30 billion yuan, according to IBES data from Refinitiv.
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