revenue Archives - Audinsights

Baidu’s Revenue Beats Expectations as AI Strategy Shows Promise

November 22, 2023November 30, 2023 Business

Shares of Baidu rose by nearly 4.5% in Hong Kong trading following better-than-expected revenue results. Baidu is aiming to gain a strong foothold in China’s AI market, beginning with the launch of its own ERNIE Bot earlier this year. The company reported a year-on-year revenue increase of 6% to $4.7 billion for the three months ending September 30. CEO Robin Li expressed confidence in Baidu’s AI-centric business and product strategy, which is expected to yield sustained revenue and profit expansion. Baidu, once known primarily for its search engine, is venturing into new sectors such as autonomous driving and generative AI.

Google CEO Suggests Subscription Business Models for AI Products

October 25, 2023November 23, 2023 Business

Google CEO Sundar Pichai has suggested that subscription business models could be considered for the company’s new AI products. He mentioned the success of YouTube’s subscription offerings as an example. However, Google will need to tread carefully as it explores alternative revenue streams beyond its advertising model, particularly considering the potential impact on its lucrative Search ads. Pichai expressed satisfaction with user feedback on the Search Generative Experience (SGE) and plans to expand its availability. This signals Google’s openness to innovation and exploring new paths for AI products.

International Tax Haven Agreement Weakened by Loopholes, Warns EU Tax Observatory

October 23, 2023November 23, 2023 Business

The EU Tax Observatory has warned that the ambitious international agreement to tackle tax havens and minimum taxation for multinational corporations is deficient and will only raise a small fraction of the anticipated revenue. Loopholes in the agreement have drained much of the expected revenue, resulting in the minimum tax generating less than 5% of corporate tax revenue. The EU Tax Observatory also expressed concerns about the potential for continued tax evasion due to exemptions and caveats in the agreement. Additionally, the group highlighted the risks associated with tax breaks for green technologies, which could worsen inequality and reduce government revenues. While the EU Tax Observatory praised efforts to combat lebturers’ use of tax havens.