Baidu Revenue Slows After China’s Downturn Mars AI Push

(Bloomberg) — Baidu Inc.’s revenue grew at its slowest pace in more than a year, reflecting the challenges of monetizing its lead in AI during a Chinese economic downturn.

Revenue for the three months ended March edged up just 1% to 31.5 billion yuan ($4.4 billion), about in line with estimates. Net income came to a stronger-than-projected 5.4 billion yuan, helped by cost-cutting. Its shares slid more than 1% in pre-market trading in New York.