Baidu, Inc. (NASDAQ: BIDU) on Tuesday reported a decline in revenue and adjusted profit for the fourth quarter of fiscal 2024.
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Total revenues of the China-based internet search service provider dropped 2% year-over-year to RMB34.1 billion ($4.68 billion) in the December quarter. The Baidu app had 679 million monthly active users at the end of the quarter, up 2% year-over-year.
Fourth-quarter adjusted earnings dropped to RMB19.18 per ADS ($2.63 per ADS) from RMB21.86 per ADS in the corresponding period of fiscal 2023. On an unadjusted basis, net income was RMB14.26 per ADS ($1.95 per ADS).
