Baidu Q3 Revenue Falls, Baozun Sees Growth

Baozun Inc. reported a significant 12.8% year-over-year revenue increase for Q3 2024, driven by strong performances from its E-Commerce and Brand Management segments, with notable growth in creative content commerce on Douyin. In contrast, Baidu Inc. faced a 3% revenue decline in the third quarter, marking its largest drop in over two years, due to China's economic downturn affecting its advertising services and generative AI ventures. Despite this, Baidu's net income rose by 14% to 7.63 billion yuan, surpassing market expectations. Baidu is making strides in autonomous vehicles, with 70% of its robotaxi rides now fully driverless, yet still struggles to regain its leading position in China's AI sector.