Baidu, Inc. (NASDAQ: BIDU) reported a decline in adjusted profit for the second quarter of 2024. Revenues were almost unchanged year-over-year.
Total revenues of the China-based technology company remained unchanged from last year at RMB33.9 billion ($4.67 billion) in the June quarter. The Baidu app had 703 million monthly active users at the end of the quarter, which is up 4% year-over-year.
Second-quarter adjusted earnings dropped to RMB21.02 per ADS ($2.89 per ADS) from RMB22.55 per ADS in the corresponding period of fiscal 2023. On an unadjusted basis, net income was RMB15.01 per ADS ($2.07 per ADS).