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Baidu reports Q4 revenue up 6% YoY to ~$4.9B and net income down 48% YoY to ~$366M, as chatbot Ernie, which has 100M users, began to augment its ads business (Zheping Huang/Bloomberg)
https://www.bloomberg.com/news/articles/20

Baidu’s Revenue Climbs after AI Helps it Weather China Downturn
Baidu Inc.’s revenue rose 6% after its ChatGPT-style service began to augment advertising sales, helping the Chinese AI leader weather a severe economic downturn.

Tencent reports Q4 revenue up 7% YoY to ~$21.6B, vs. ~$21.8B est., a ~$3.8B net income, vs. ~$4.6B est., and plans a $12.8B stock buyback, as gaming sales slow (Zheping Huang/Bloomberg)
https://www.bloomberg.com/news/articles/20

Tencent Sales Disappoint After Pervasive Chinese Slowdown Bites
Tencent Holdings Ltd.’s revenue missed estimates, in another sign that China’s faltering economic recovery is taking a toll on its gaming and social media portfolios.