Baidu just set a new 52-week low at $88.08, 0.53% under the low it made only eight days earlier. Lows stacking this close together mean sellers still haven't found a floor, and a securities class action announcement hit the wires the same day.
Baidu just carved out a new 52-week low at $90.59, 0.31% under the floor it set on August 18. That is a $25 billion market cap for a company that traded above $156 in January.
Baidu's AI build-out is finally showing up in the numbers, and so is its cost: GPU Cloud revenue grew 283% year over year while capex tripled to $1.69 billion, pushing free cash flow to negative $1.18 billion. Net income fell 68% as other income collapsed, and both EPS and revenue missed expectations. Online marketing revenue is still shrinking 19%.
