Baidu reports Q2 revenue dropped 5% YoY to ~$4.3B but net income reached ~$543M, beating estimates despite faltering Chinese consumer demand amid lockdowns (Zheping Huang/Bloomberg)

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Zheping Huang / Bloomberg:
Baidu reports Q2 revenue dropped 5% YoY to ~$4.3B but net income reached ~$543M, beating estimates despite faltering Chinese consumer demand amid lockdowns  —  Baidu Inc.’s profit beat expectations, helped by the Chinese search leader’s efforts to expand into new businesses and shield itself from an economic downturn.

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