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Baidu (Nasdaq: BIDU; HKEX: 9888) released the financial report for the third quarter of 2024 ending on September 30th today: total revenue was 33.6 billion yuan, a 3% year-on-year decrease. The net income attributable to Baidu was 7.6 billion yuan. Using non-US GAAP, the net income attributable to Baidu was 5.9 billion yuan. After the financial report was released, Baidu's Chairman and CEO, Robin Li, President of the Mobile Ecosystem Business Group, Lu Rong, President of the Intelligent Cloud Business Group, Shen Dou, and Acting CFO He Junjie and other executives attended the subsequent earnings conference call to explain the key points of the financial report and answer analysts' questions. The following is the analysis and Q&A section.
Overnight news: usa stocks show mixed results, nvidia's revenue nearly doubled year-on-year, Q4 guidance failed to impress Wall Street, and the import volume at the busiest ports in usa continues to rise significantly.
For more global financial news, please visit the 24-hour real-time financial news market closing: Dow Jones up 140 points, S&P flat, market focuses on Nvidia's financial report. Top 20 US stock turnover on November 20: Bitcoin concept stock MicroStrategy's market cap exceeds 100 billion US dollars. China concept stocks on Wednesday had mixed performances, Full Truck Alliance up 15%, Wunong Zhixing down 8.2%. US WTI crude oil fell 0.75% on Wednesday, New York futures gold rose 0.8%, back above $2650. Major European stock indices collectively fell, with the German DAX30 index down 0.26%. Nvidia's revenue increased by 94% year-on-year.
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