ATTENTION CHINESE: Take Control of Your Internets; $BIDU Warns and Cites ‘Artificial Intelligence’ as Next Phase of the Internet

It must be hard to run an internet company in a country that fucking BANS opinion. To reward the Chinese for their grave human rights misgivings, we should export more intellectual property and American jobs.

BIDU warned and offered the plebs reading their statement a small glimpse into the Chinese future. Hint: it doesn’t include human beings.

“The challenges Baidu faced in the second quarter served as a healthy reminder to stay focused on the key drivers of growth, sustainability and leadership: delivering the best user experience and staying at the forefront of technology,” said Robin Li, Chairman and CEO of Baidu. “As we enter the next chapter of the Internet, led by artificial intelligence, Baidu has never been better positioned to serve our users and work with our customers and partners, and change the world through technology.”

“While we experienced a tough second quarter, our value proposition to our users remains solid,” said Jennifer Li, CFO of Baidu. “Delivering a superior user experience and building a trusted platform are the pillars that will drive our long term sustainability.”

• Reports Q2 (Jun) earnings of $1.22 per share, in-line with the Capital IQ Consensus of $1.22; rev +10% to $2.75 bln vs. $2.74 bln consenus.
• Preannounced: Lowered Q2 rev to $2.807-2.823 bln from $3.12-3.19 bln on June 13
  • Mobile search monthly active users (MAUs) were 667 million for the month of June 2016, an increase of 6% year-over-year Mobile maps MAUs were 343 million for the month of June 2016, an increase of 13% year-over-year Gross merchandise value (GMV) for Transaction Services totaled RMB18.0 billion ($2.7 billion) for the second quarter of 2016, an increase of 166% year-over-year.
• Co issues downside guidance for Q3, sees Q3 revs of $2.714-2.796 bln vs. $2.97 bln Capital IQ Consensus Estimate.

The stock is barely down, off by 1.5%.