Baidu reports Q3 revenue down 3% YoY to $4.78B, net income up 14% YoY to $1.09B, and online marketing revenue up 12% YoY to $1.1B, driven by AI cloud business (Evelyn Cheng/CNBC)

Evelyn Cheng / CNBC:
Baidu reports Q3 revenue down 3% YoY to $4.78B, net income up 14% YoY to $1.09B, and online marketing revenue up 12% YoY to $1.1B, driven by AI cloud business  —  BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth.